FWIW, I’m covering both my equity index, $VIX, & silver shorts to book some outsized gains & reversing to long here for various reasons. I post additional charts and/or videos today but here are the charts of a few of the trades I just reversed with the reasons why. Only looking for a tradable bounce now & only a starter/fractional/small net long position at this time & will adjust (flip back short or add to longs) accordingly, depending on how the charts develop after the open today.
NQ 120m April 3rd
/VIX 120m April 3rd
VIXY daily April 3rd
SI 120m April 3rd
Both QQQ & SPY are also currently trading above decent (good but not great) support on the daily charts in the pre-market session so I could easily see a post-opening drop to those levels followed by a reversal. Could go the other way but for me, I’d prefer to book profits on my shorts right now & reassess once the regular session is underway before getting too aggressive on the long or short side.