The bounce wasn't shared by all sectors, which is a risk factor for now... while some of the instability in the markets may be linked to earnings season which kicks off tonight with AA.
Trader blog traffic is mostly negative on earnings for this quarter with a common argument that massive technology uplifts in many companies have accomplished as much as possible in productivity and hence profits and EPS are most likely to be flat rather than accelerating in many cases.
We shall see.
For now we remain in cash in the SPY M3 Trader.
Note the Gamma model below using an all in top 6 sorting....the rankings are not used, the portfolio is just rebalanced each week.