Nothing about today has changed the market's outlook. If anything the bulls have managed to digest some of last week's gains. It is likely that Intel will determine the next major move in the market with a potential for a big move either way. It might pay to fade that move, whichever way it is.
I expect earnings season to be mixed with something for both bulls and bears. If the market rockets higher on Intel's earnings I believe it will pay to go short as there will be companies that disappoint. By the same token if the market is very weak on Intel's earnings I believe the market is buyable as there will be good news from other companies. Have a good night.