Update

After the S&P 500 tested 815 or so , it has zoomed ahead. I would have expected a test of 800 but the markets had other ideas.
So did we get the pullback and should we jump in and buy? I think one has to be very careful as the resistance at 860 or so is high.
Volume is low today and we can still have some pullbacks.
Overall the upside is not much and downside is high. Risk/reward not so appealing.
I have sold some calls here, have some puts and some calls meaning while we might go down , I do not want to miss the upside.
So I am buying calls on technically good companies and buying puts on bad ones.
I guess you did not need me to tell that but while a rising tide lifts all boats and a market collapse takes all the companies down, now while we are at resistance, stock picking is the right way to go.
Meaning I am not buying index calls but rather calls on individual companies.
Be careful.