On a macro level, we could very well melt up here the next 2-3 weeks to SPX 4200+. It will be obvious because the steady up channel will breakout to the upside and a little parabola will appear. I'm not a big hedger (I have a lot of longer term things so I usually only hedge with covered calls), but I'd be going heavy cash, selling calls and buying puts if we got anywhere near 4200 before mid April. It's pretty easy to see if you chart it log scale with an upper channel line (homework assignment kiddos).
Go look at January 2018 for reference. We'll have a few days up to a few weeks to get right so don't stress. OA will be all over it as he was throughout 2018 (seriously go read his posts from that whole year, another homework assignment).
On the other hand, if we steady grind up on this channel, as Reddog says "You can't get too bearish". Go look at 2017 (after the craziness of 2015-16) if you think there's no way we could be sitting at SPX 5000 by Christmas. Throw all your biases and feelings out the window and look at the charts and look at historical runs/prices. The catalysts are all there. This steady active upward channel has only been going for about 3 months. In 2017 it went 12+ months and had a blow off top. Don't miss it if that happens this year. Opportunities like this don't come around that often.
I'm not throwing bull sh*t out there (pun intended), I'm just saying take it day by day, week by week, month by month. Price is all that matters. Always take occasional looks at the weekly and monthly charts, and you'll sleep way better at night.
If this post is on the B&I forum, lighten up it's just money!
Disclaimer: I'm not that smart.