Wait for 111.7 to Short

111.7 is strong resistance and a good place to short. Meanwhile 110.8 is a good support level to go long.

If SPY breaks down below trendline A and support at 110.8, then SPY is headed for 109.52 to fill the week old gap. Wait for SPY to run up to 111.7 and short, then cover when SPY hits/breaks below trendline A. Re-short when SPY backtests trendline A. If SPY holds above trendline A then SPY is headed higher not lower.