US stocks fell sharply yesterday, Thursday, and there hasn’t been much of a rebound during the day today. The main reason is that the nonfarm payrolls report comes out tonight, Friday. Once the report is out, regardless of whether it’s bearish or bullish, a corrective rebound is sure to happen over the weekend and during the day on Monday. So the rebound that should have happened during the day today will be pushed to the weekend instead. Therefore, today isn’t a good time to chase shorts. If the market plunges after the open, decisively buy the dip (except in storage-related assets). If it doesn’t make a new low, you can also enter a small light-long position—for example, if you went long near the lows last night, you could hold that position, as long as it’s small. To get short again, it would be safer to wait at least until the downward momentum weakens on the 12-hour to daily-chart timeframes (today, the signal of weakening downside momentum only appeared on the 8-hour chart).