The S&P 1419-1489 Macro Trap is now set

In my opinion the extreme low levels of the various volatility gauges witnessed yesterday attest to the markets desire to believe in utopia and to erase all fear as the market walks into a macro trap.  This  attraction is towards the boundaries setup by the June 2007 to October 2007 breakdown point of 1489 on the S&P and the September 2000 breakdown level of 1419 on the S&P.  Prior to yesterday, the 1419 level capped the market in 2012.

We have made no changes to our portfolio yet, but will add to short positions in stocks either when the 1454 mid-point of trap is hit or when a short term sell signal is triggered.

I am in basic agreement with the article attached as well.

  http://seekingalpha.com/article/848961-the-last-innings-of-the-bull-market?source=email_macro_view&ifp=0