Do you believe this rally is another head-fake? Maybe short the SPY at 417?

So the question is, have we already hit bottom for 2022? If you're buying individual stocks or pouring money into ETF's, you probably think we've already hit bottom. However, others believe this is just a temporarily rally, with much more pain headed our way. Including new 52 week lows for just about every major tech company.

If you're in the 2nd camp, you're probably twiddling your thumbs, wondering what you should do. Maybe you've got a nice chunk of cash, sitting on the sidelines, waiting for the inevitable failure of this rally.

I'm in this conundrum. Basically waiting. I don't think we've seen the bottom of 2022. I think more pain is coming.

I've looked closely at the SPY, and it seems like there might be some resistance at 416/417. One strategy could be to jump in something like SH at around 416.50 or so on the SPY. If the SPY hits 419, you lost, sell out and maybe try again at 424/425, another possible resistance zone.

Also, if anybody else is considering shorting the SPY at a certain point, what do you use to short it? Whenever I've temporarily shorted the SPY, I used SH. It's the ProShares Short S&P 500