SPY at Key Resistance on Multiple Time Frames

SPY gapped down below key support and is now trading at significant intra-day resistance ($114.20). As long as SPY does not confirm a move above this level, it should see a nice move to the downside. Shorting at this level is a great move, just set your stop for .15 or .20c depending on your risk level. Normally I would be very confident about this type of move, there is resistance on the 5, 10, 15 and 30 minute charts at this price, but with the easy nature that buyers have been springing into this market, I have to be fearful that we could still somehow break through and into yesterday's trading range. However, I don't base my trades on fear, I base them on opportunity. I am Short SPY now with a Stop Loss at $114.45.