About today's action

First of all, I have no idea if correction on index has started, because SPX is still above 1/20 low. 

However, the structure of today's drop looks less like a corrective pullback before going back to a new ATH. From risk/reward perspective, “if" correction has indeed started, the downside space is significantly larger than the upside space here.

Hence closing short trade positions, locking in their profit/putting cash aside, and rotating into core positions when opportunities come.