Mixed signals for Thursday. VIX closed above its MarP, only the second day to close above any pivot since 11/9/2016. But NYA held MarP and IWM had near test of MarS1, so we don't have a purely bullish or bearish scenario.

I respect VIX, so don't want to return to 100% long; however, IWM near MarS1 while other indexes is probably a quick take. Therefore, I think the best move is to take off one of those hedges for 10 longs, 2 hedges, 80% net long exposure.

SPY, IWM below.