Trade update

The SPX had a nice rally today to get back to new highs again. It gave back some of it towards the end of the day which leads me to believe the upside here is still very limited this week. I still feel safe keeping this trade open, but will need to keep an eye on the market tomorrow. Bollinger bands are starting to squeeze and the chart is up against the top Bollinger band. Ideally I'd like to see some action similar to the chart area that I highlighted in yellow below. This would see us pull back to the lower Bollinger band around 1540.

Tomorrow should be interesting.