SPY Almost Time to Short

Near the end of last year year, I anticipated a sideways trajectory for the stock market and that has been largely correct. Today SPY will try to break through 113.2 for the 4th day. In my mind today is the last chance for the bulls. If they don't break it here then I am going to begin shorting for a pullback. As was the case previously at 113 and 105, when SPY was unable to break resistance/support levels for over 3 days then SPY reversed. I'm expecting more of the same this week.

Technically, SPY is set to gap down and open at 112.7. SPY is still above the rising trendline A and as long as SPY can hold above it, I expect SPY to run up to 113.2 to threaten the top again. If SPY breaks trendline A then SPY will begin a pullback to 109.46.

Index options expire at the end of today, stock options, future contracts and future options expire tomorrow so I'm expecting a ton of volatility today and tomorrow. So play small because you could get whipsawed easily.

If I were a devious market maker I would run SPY up to 113.2 and push it above, this would blow a bunch of stops and set up the perfect opportunity to get short, watch for a tick over 1000.