S&P500 : Added to Short @ 1328

• Initial trade - sold @ 1321.25. Just added @ 1328 on spike up after EU said open to direct European bank recapitalizations from ESM.
• Monthly : Back below 1374 = negative phase. Hard to say how far down we can go. I would say 1218 is possible.
• Weekly : Current recovery from 1287 to 1335 is merely a temporary reprieve. This is a pullback to sell into.
• My stop on this trade on a standalone basis is weekly close > 1350. Or earlier, if we get a sudden turnaround in sentiment and I am forced to give up on Risk Off.