We can use a stop loss at 38.36, which is rather tight but safe, and go short risking 0.5-1% of the account.
All in all, the range expansion validation target failed to confirm the momentum in SPX , so I'm inclined to revert back to shorting it. We might be soon to validate the $DJIA terminal pattern from related ideas too, lower probability, but still within the realm of probability.
That being said, I don't want to close my longer term fundamental/technical stock longs, so, I choose to protect my exposure with $SPY puts, and $SH longs. All in all, factoring in the dividends, and the speculative shorts and puts, there is extremely low risk in holding the trades for longer, even during this pre-election period and beyond.
Good luck with the BOJ today, and tomorrow with FOMC, trade safely.