Sandwich did a post not too long ago here on the SnP as well, but I wanted to get my 2 cents in.
1279.5-1299 is the "trading zone" in MML theory. Essentially, it is hard for price to get in there, and once it is in there for 5 or so days it is hard to get out.
I believe that shorting this area for a move down to 1250 (whose speed is governed by the slope of the bottom of the magenta trend channel) will be a good trade.
A close with any conviction over 1300, and I begin to get bullish however.