Since our upside risk is so minimal, a short trade would be a good idea here. Risk a rally above 2100 to be safe, and target 1728.30. Keep in mind the sideways pattern Tim West had forecasted in his yearly forecast chart. If you haven't seen it, it's a work of art. See related ideas.
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Monitor this level on close today. A close below would be a good start. 209.54 SPY
Anticipating a gap down open tomorrow.
I don't trade volatility directly, I see it as an indicator (Vix) but wouldn't trade it since it doesn't obey any kind of technical pattern that would work on other instruments in my experience. (despite many people toss indicators or trendlines at it...)