The market is in an uptrend. You should never short a quiet market.
Yet, if the IWM does not get a push to the upside soon, I would expect a sharp and significant break down short term. This is a really long consolidation being put in, too long perhaps.
With that in mind, if you are comfortable with short term trading and have the discipline to place and use buy stops, you may want to consider putting in a short on the IWM with a buy stop at recent IWM highs.
I plan on going with a TZA long approach; small cap bear x 3.
This is short term. The market trend is still very much up, up, and away.