that would have been NDX:SPX or COMPQ:SPX or QQQQ:SPY (they are the same). And this chart will tell you how much room this market can run up, very limited upside, almost none.  Even during the bull market, the market failed here (acutually failed below the current level of QQQQ:SPY).  Please check the chart yourself, I have said a few times in the past, and showed the chart.  So...if you want to short this market, short nazz.