updated 4 hour and 60 minute SPY charts show a cluster of resistance levels (resistance zone) not far overhead.  if the market somehow manages to push above the top of that zone, i will likely stop out of the recent index and sector shorts that i scaled into (stops on individual stock swing shorts are dependent on their individual charts).  keep in mind that the 61.8% fib retracement of the drop from the 5/1/12 peak to the 6/4/12 lows comes in towards the bottom of this zone as well.