1. In short term ( a few days or weeks), Mr Market wants to go up and the strength is very strong.
2. For SPX, before it moves up, there could be a consolidation phase today around 870.(I adjust my previous view of 855) so this could be the place you can minimize the loss. If you want to stop loss, should do it wisely here.
3. If you want to hold short position, you will likely have to wait till Mr Market comes back from Moon to realize the real economy mess.
4. Because the oil moves higher after bottoming at 40$ so SPX will get support from oil stocks.
5. My view of the market is still bearish but you may want to avoid the mad cow.
6. Another thought is that maybe bet a small amount for long when the pull back consolidation arrives(but you need to watch them closely).
7. And someone told me, in this insane market, never hold anything over night, even short position. It seems so true now.