Here's why we are waiting

The 1 min has gone positive, the 5 min has been positive, so we ar watching for late day strength, we only want to add the rest of our short position (bring us to the 75% short area) if the SPY CLOSES above $104.30, otherwise this may be another volatility false breakout. Don't worry if you miss a few points waiting, it greatly enhances your risk / reward relationship