If the S&P can break Mondays Highs we could see a nice move up to 1986 area on S&P futures. However the 1940-1945 zone is extremely strong RESISTANCE at this point. The best play here is to short around the 1937 area with a cover at 1945 where we would then go long. You are taking a tiny risk shorting here and if we get the breakout just flip long and look for a 40 point move up from here. I put up two charts below the first is the setup on the S&P here the second is the potential long play on SPXL if we get a breakout.