This is very bad action in the markets. Doesn't bode well for 2019 - that's for sure. I keep expecting some seasonal factors to spur on a counter-trend rally. The fact that we're not seeing any of that is concerning.

Not sure what exactly is causing this. Could be GE / AT&T debt worries. Could be China. Could be the hawkish Fed. Could be that the tech leadership's business models are going to be forced to change due to either gov't intervention or public outcry. Whatever....

Technically, I'm now waiting for a bounce to occur to get rid of the short vol / long equity bets. Hoping that a floor is found at 2630 or 2611 on the S&P futures and that we see a bounce back up to 2730 - 2750. That's where I'll be exiting the short vol / long equity trades.