In an interview on CNBC's "Halftime Report," Short said Amazon's earnings report was likely to disappoint.
"We're looking at Amazon expected to be down about 60 cents earnings per share, negative 60 cents. That's in comparison to negative 9 cents year-ago. Amazon still has some things to work out," she said. "Yes, they've been growing on revenues, but they have a spending problem."
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Among bright spots for the market, Short said that the outlook for financials appeared positive, with the sector up around 8 percent year over year.
"I think you're seeing an end to the big government settlement fees," she said, adding that mortgage lending was also up quarter over quarter.
Industrials, also, were coming in "really, really strong," Short said, noting strong results from Caterpillar and Boeing.
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"Caterpillar's sort of relaxing some of the fears around the euro zone," she said, adding that it served as a proxy for global growth. "When we see industrials do well, we start to feel a little better about the economy."
Finally, consumer discretionary looked robust, Short said, noting that overall same-store sales were strong and that consumer sentiment was at its highest level since 2007.
"I think there's still a lot of bright spots, and with unemployment continually decreasing, that's making the consumer feel OK about going out there and spending a bit more," she added.