Fed is out of the way, China deal will be done. Bears got flushed out in December. Market inflicts most pain on bulls and bears. Bulls got punished and now bears are getting punished. This market could keep grinding up till everyone loves it. At this time short term trend is up. 20 MA is moving higher. Markets climb wall of worry. I will not short it till short term trend changes.
Too many people want to short the market. Dow is touching 200 ma and SPX will go above 200 ma. At this time trend is up. If SPX drops below 50 MA then I will go short. Market has to confirm the trend.