May head down for a bit, will be met by more buyers. Daily move hasn't run it's course. No idea why you are going against the trend, maybe read too many Marketsurfer's posts.
Long Term of fading new highs or new lows based on nine year charts, been doing this very long time, and being hedged helps a bunch.
Looks like we've picked up a micro bit of vol, from the open the move was 9.25. Support and resistance trades would have picked up a nice short when it hit the 2209.50 resistance level.
This trade is at 6 times margin as I have already committed 4 times margin on the swing trade I have going.
It looks like a lot of news is been released today. IV on todays EOM expiry was a lot higher than I expected.