5/26 pre-open

The short put on at the close and overnight will remain until the 85-hour SP futures M/A +1.65% is broken to the upside.  This computes currently to 1089.

A break of this M/A will confirm wave 2 is in force and that further upside to at least 10,500 is in the cards.

The following is a 5-minute, 380-unit chart of DIA, the DJI ETF.  It's critical resistance is at 101.45.  Currently it is 101.25.  So it pays to stay short here and let the market confirm that either wave 2 is running or that wave (v) of 1 will extend downward with a slowly accelerating I1.