A Dead Cat Bounce?

I think the chart of the NASDAQ below says it all. There are a ton of charts that look just like it, showing a weak bounce that’s run right into resistance. I’d still like to let them lift a little more before jumping on the short side, but how often does the market give us our preferred entry points?

I should note that it appears that the market will gap down this morning due to the increased terror alert. As usual with gaps I’ll wait 30 to 60 minutes before trying to make moves in the direction of the gap.