Closed on high of the day. Fear is now gone. And long forgotten are the calls for 1220-30 by those who were selling at 1272. I am not sure how much upside is left. 1302 is going to be a strong resistance - only 5 points away. Reward to risk ratio is not good enough for me. I do not know if one sells here, but one is to be ready to do it on the break down. Short-term charts come handy on turn-arounds. Use them to your advantage...
And another thought, if SPX gets to 1220-30 I bet it goes through to punish bottom fishers there, as the level has now been well-advertised. Market moves in mysterious ways to punish most traders at most times.
not a trade suggestion, but a view of a single trader
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