There are many vehicles for betting on the downside of the S&P 500. Various indices as well as futures contracts provide no shortage of opportunities. How one goes about playing the downside of an index is up to that particular trader. There is a rising wedge forming on the 15 min chart (don't put too much weight in low time frame chart patterns) as well as nearing fib resistance and overbought territory. We've been going almost straight up since Thanksgiving and I see this as a potential setup for gluttons to be punished.