The jury’s still out on whether the broad averages are in a bull rally or a dying-cat bounce. Regardless, if you’re intent on sticking with a long-term short position initiated near the July top, my advice it to bail out only if the E-Mini S&Ps surge above two prior peaks on the hourly chart without a significant correction. As of the moment, that would imply an unpaused upthrust exceeding the 1956.50 peak-let recorded  July 31 on the way down.  That would be equivalent to a DJIA rally of about 200 points — barely a day’s work if the bull is a feisty as it was a month ago.