There is just too much volume at this level from last year looking for an exit near break even. If it goes up I am betting it is going to be a grind - atleast two weeks - or a swoon down before the move up. That's my view. If it works out, will make money from calls I have written and puts I hold. Else will have to take a loss.
There's also a lot of shorts around 2970ish. Won't take much for it to squeeze up. Especially with this V reversal from Friday morning. I'm long @ 2962 with a stop at 2953