SPY just seems like it has had a blow off the top strong 4 week push. I'm not bearish, but just waiting. Would like to see a pullback to the open gap at the 400 price level from early April. If we go sideways long enough I might change my mind. But if I do short at any time, and I HATE shorting the SPY, I will be full on long if we get to the 400 level.