Tactics...

This is one of the reasons it's helpful to keep a trading journal to improve your trading. This is what I'd write in my journal today.

"During the late afternoon there are short term intraday signals suggesting the market see some more downside, however some of the charts that are correlated with market downside as we have expected like VXX, TLT and even some of the averages and Bellwether stocks are improving. I expect a reversal from a downside move like this to be sharp as to squeeze shorts and a part of me wants to make sure I have trades in place or add to trades already in place for when the bear trap springs which could be as early as tomorrow on the open, but the more disciplined side of me says I need to wait until any long positions I am considering for this short squeeze move, confirm with strong 3C charts, not just better than they were. I may miss the trade, but experience tells me to listen to objective data and not greed or fear of missing the move, I'll wait until the charts are giving strong signals even if that means risking missing the move"

That's exactly what I'd write.

There may be a few assets that look good sooner than later, but as long a we still have 5 min negatives like this...

SPY 5 min negative still suggests this move is not done on the downside or at least not ready for a move to the upside.

I need to be patient and not give in to emotions like Greed and in fact fear, fear that I might miss the move.