SPY has developed an H pattern that could be a good play either long or short. Good entry location at current price with a stop loss at 331. If $331 is lost, we should head pretty quickly to $320. On the long side, I would like to see an engulfing candle that will bring us pretty quickly back to $346. I am anticipating a short squeeze. Either shorts took a small breather, or there are way too many buyers for shorts to continue bringing down the market.