Perhaps Another Triangle Forming

It looks like 1278 could be a target at some point today. However, I'm becoming more open to the idea that yet another triangle is forming which would involve new highs. The 1290 area that I had my eye on was tested in the overnight session. The way it reversed from that area was a little choppy and should have been more impulsive looking, in my opinion. I'm hedging my puts with the ES right now at 1282 just in case. It could be choppy ahead of the state of the union address this evening and the Fed meeting Wednesday.