The first of three potential targets on the SPY mentioned here a few days back as well as here in January, was finally hit and surpassed by four cents just before today's close. Now we'll see what this market is made of. If we don't pull back with any emphasis over the next day, we may see further upside, but it's not a bad opportunity to try shorting here with a tight stop. This could be "the elusive top" everyone has been waiting for, after all.
**Update** While a short here is tempting, the overnight futures market is showing no signs of weakness. Caution is necessary.
