Anyone who has followed this blog in the least bit knows that me and Dolemite have been shorting the equities quite a bit, and it looks like another opportunity to get in is coming via the S&P index. We see a retrace today heading us towards the all important 1290 area, as the bottom of an important retracement channel and some previous peaks and valleys. It looks like the MACD is providing some continuation divergence between today and Tuesday's highs to boot. Also to note is the extremely low volume today (shown in light blue below the candles) compared to the volume for the down days. Any signal, such as the shooting star forming now, and I think its sell sell sell.
Edit: To note, you can see my charting application has actually switched front months to the Sep contract, but the Jun contract is also quite low in volume and is already at the 1290 level, with highs at 129300.