Wave chart at 11 am

Here is the e-mini wave chart for the past two day sessions. I am currently short 2 units. Since I think the trend is down I want to stick with my shorts so long as the upper purple dotted line contains most of today's trading. I also want to see the volume stay light on any rally from here.

Ideal resistance is at the lower dotted line but that has been tested once and is not likely to hold on a second test. The wave chart is now actually a bit bullish since we have seen a shorter down wave which followed a longer up wave (both comparisons are to the preceding wave in the same direction). So I think it is likely that the market rally into the 837-40 zone before it takes out yesterday's low. If I am wrong here it will probably be because the market goes straight down from here and this is another reason why I want to maintain my short position.