I can’t advise anyone specifically on what to buy/sell and how much of your portfolio to place in any one trade as I simply provide analysis & trade ideas. What I can & will say is that the Nasdaq 100 is still above the 60-minute uptrend line with some of the big techs recently breaking down & others still hanging in there but also scheduled to report soon. As such, I think it would be prudent to be scaling into index shorts vs. a full position (whatever that means to each trader) at this time, adding if & as we get some additional check marks for the case to be position short for a swing/trend trade. JMHO & as always, I will continue to post frequent updates & any change to my current outlook on the stock market which remains both near-term & longer-term bearish at this time.

Most likely lot of traders went short at $5.75 level and now they are squeezed which result in short covering and pop in extreme rally!

SIRI volatility halt lifted, spiked up to 111% above the May 30th entry & halted again (third halt of the day so far). Algos gone wild.