Update

Without posting a bunch of charts, from looking at recent activity in the short term charts and GLD, I do feel the higher probability is higher prices at least for tomorrow. As mentioned earlier and well over a week ago, I would like to see the SPX try for $1400. I don't know if it makes it there, but again the entire purpose of this exercise in moving the market off the April 10th lows would be to knock out as many shorts as possible and get bulls back in the market to set a bull trap, $1400 would achieve both.

As a result of this analysis, unless there are very specific stocks with great set ups right here and now, any positions (short) that I add, will still be on the small side as long as higher prices are anticipated and that is where I'm leaning. Higher prices offer a better entry and less risk.