Support

It looks to me like the SPY took a breather right at the support line of an shorter term uptrend that has been intact since July 9th.  I need to keep in mind that we are still in a strong bull market, and any pullback is exactly that, a short term pullback.  BUT if the SPY should manage to close below that trend line, we should see a pretty significant pullback, maybe to the 50 EMA at 101.25. 

I have a few decisions with my outstanding position, I could either put in a stop and ride it out, I could sell it when there seems to be running into that trend line (perhaps near yesterday's high), or I could wait on it, and take a stronger short position on any bullish pullback. 

Right now I am leaning towards riding it out and seeing if the bears can follow through on their selling efforts, it is a pretty small position, and sometimes you just gotta go for the home run!  I'll keep an eye on the charts today, and update here if I make any changes.