S&P500 has seen an incredible run since March. We’re up almost 11% for the year. Volatility has also declined significantly. This environment where everyone is bullish is when you should consider a short or hedge your positions. That being said, I do believe S&P500 will continue to make new highs. Therefore, I personally would not consider a short position until the price gets closer to 4250. That these levels, I’ll look to start opening some short positions as the risk-reward ratio becomes more attractive. Lastly, I’ll like to make a note that markets love false breakouts. We may see a surge above 4300 only to collapse. This will catch a lot of bulls on the wrong side. This potential bull trap could be a fantastic short trade.