Interesting day with a few high flyers getting knocked and other indexes continuing higher.

VIX remains under all pivots and XIV held above NovR1, so giving benefit of doubt to bulls. Other safe havens collapsed - recent TLT position cut. Some of my hedging this year may have looked silly and over the months there were a handful of small dings - as well as some very proftiable trades and a huge score on short XIV. Today was one of the big scores, with SMH and FXI hedged out two days ago. Oh yeah, FXI -2% and SMH -4% today.

Interestingly, QQQ fell back under YR3. Given the current look of most indexes and safe havens I think some bounce is likely into the end of the week, but I also think YR3 will remain as resistance for a bit further. A bounce towards that level could set up a great r/r short hedge.

SPY, QQQ, FXI and SMH below.