Looks to me as if the capacitor has charged up so there is 5 volts across it. Without anything hooked up the the Vout side of the capacitor, the difference between Vin and Vout will stay at 5V. There is no way for the capacitor to discharge. (Vout is just kind of following whatever Vin does, only 5 volts lower.) Try hooking a resistor up between Vout and ground. When Vin goes from 0 to 5 volts, the output will jump to 5 volts (because Vin and Vout were both at 0V, there is 0V across the capactor) and Vout will decay back to 0V. At this point, there is 5 volts across the capacitor. When the input goes from 5V back to 0V, the output will be "pushed" down to -5V (voltage across the capacitor does not change right away) and will then "decay" (in an upwards kind of way) back to 0V. You should get a positive spike, then a negative spike, then a positive spike, etc. Careful - if Vout is feeding some integrated circuit, driving some inputs below ground can destroy the chip (and you might need to use a diode to protect the chip.)