My feeling is that we still need to balance the symmetry of this small upward fork. I'm still holding out for 1268 or better yet 1290 before adding to my already short position and going all in on the short side.
I know it's not smart to shoot for the fences, but I'm feeling very certain of a near term collapse.
To be truthful it's not just a felling. Currently the market is at the top of a long term fork it has only two ways to go. Either we breakout to fantastic new highs or we hit the resistance and fall. Does anyone really think we are in a position to rally? I rest my case.
Here is an interesting candle chart. The year turned out to be a Doji
|Yearly Chart - S&P|