Time stop 2nd of march if above entry on close.
As soon as close below 2100 move stop to entry. (no loss)
1) Monthly R2 was reached (Monthly R2 was never reached since May13).
2) The monthly ATR is 97 and the current range for February is already 138 (which, apart from Oct14, is the widest month since Oct11).
3) The area is confluence of (which are not very precise but should cap overall.
4) The news are out, the progress has been tepid the last few days. Each point higher is laborious.
5) SPX has been in upside posture for 18days (apart from oct/nov14) this is close to the longest streaks in 2013 ..
I think the upside is very limited overall and even more before the end of February.
The question is more if SPX can stay flat at the top for a while (which it did a few times: Nov14, Sep14, Jul14, jan14, Jul13..). The longer it stays at the top, the more confident the bulls will be.
Your fist circle is most likely the stop, but I can see the 2nd as a true flush out scare play (I also have these as support). The 3rd, well if we hit that then we're in trouble lol. But, if we power above and stay, than we have room to run much much higher.