Will exit to cash. Better safe than sorry...

I do not like the fact that the SPX did not correct down to ST-S1 and pause its advance for 3-5 days setting up a right shoulder in a Head-and-Shoulders Bottom (HSB) pattern. Instead it ran up to R1 and was pushed down promptly today. I think this market is overbought and I'm afraid it will not be able to overcome R1 without correcting. Therefore, I'll revert back to my original plan and exit to 100% cash. If R1 is eventually overcome, I'll be forced to reenter at higher levels. (ST-S1 and R1 are in charts below). I don't have time to set up new charts now as I have trades to make.