S&P500 - Short Idea - Bearish Pennant

I see a short opportunity on a over valued S&P500. We have had an aggressive move down after Price hit some major levels (I think most are surprised how far north the SPX went after it's drop last year. Ok so, I do see a bearish pennant developing on several charts, I see a previous resistance line, pivot, 50% Fib of the last major move down, the 34/55 EMA's in the way plus MACD in this case is confirming the trend not countering it. I see my Bollinger Bands rolling over and widening out. I also see springiness in the price action I observed yesterday...investors are a little cautions and for good reason in my opinion. My profit target is outlined, and its where the daily 200EMA is, plus several other reasons, Best of luck, 1% Risk 2:1RR -Happy Trading.