I just layered in some SPXS (leveraged short SPX) due to the state of the bounce, which has now touched the SMA 50. I am not making a recommendation because there is no way on earth you have the same portfolio structure I do. I have not sold any longs and remain long-biased. I am running my portfolio theoretically as a long/short hedge fund would. But remember, my major position is divy-paying cash equivalent (SHV).
Preamble aside, if you are bearish the market and want to short, the setup below is much better than the spike down last Thursday, eh? A rise above the April high however, puts the ‘M’ top-test scenario in play and I’d not plan to ride that with many, if any, short positions.
 After a long weekend of writing, I am walking away from the market for a few hours.