Nice action on Friday, with a new low followed by a 10% rally. Technically, we have set up for another 25-35% move from here. The market is making it hard to stay long, blowing thru stops, and then reversing. Next target is 1006 SPX with a final move to 1125 ish. But as Kenny Chesney says, don't blink. This could be done in a matter of days, not weeks. Good strategy here would be backspreads on your favorite blue chippers. With VIX over 60, you will be selling the meat of the vol.
Jets over Titans, ...there was once a dream called Rome.