Have to say I am getting crushed today but I am not worried because I have averaged down considerably. This move is on pathetic volume (what else is new?) and to me unsustainable. This move is squeezing all the weak shorts. Based on the price action we have had in last few days, this level will be a thing of the past. We may see 1072-1075 today or tomorrow and then the next leg down will come into play. We break above that I will cover and then re-short at higher prices. We have had big moves to the upside only be sold off, I do not see anything different this time. I will cover half today at some point and re-enter tomorrow but it all depends on what happens for the rest of day. SPX is currently trading up in an area were there a slew of trend lines and Moving Averages. Good luck to all.