This market is gamed pretty hard, so I wouldn't actually trade this. However this market is long overdue for a bear phase, so who knows? If I had confidence this wasn't actually going into a bear market, I would go long instead of short, as that's the pattern I've noticed. Expect the opposite of what's expected. Those are terrible conditions to trade under however. If I knew more about options, I think there could be some really great straddle plays here as the VIX is also breaking out of a bullish triangle pattern.
Let's hope this thing breaks downward and we can get this show on the road.