At the Top of the Range

We are at the top of the range (on the SPY) dating back to the 10th of November. It feels like we could potentially break out as the high of $111.74 is soon to be tested. A short play here is not a terrible move, but being that it is the third time we are testing the top of this range, I don't think it is a great play. I would wait for confirmation that we don't break through $111.74 before shorting the market. In the case that we don't break above the range, look to short SPY if we move below $111.20 with a target somewhere around the $109.25 price point.