Sentiment April 4
Previous market top built on copper strength, yen weakness
SPY dealer greeks - delta slightly bearish, gamma slightly bearish

CPCE skyrocketing

Dow rejecting Dec low

NAAIM more bearish

NDXA20 dipping

NYMO dipping

VIX huge spike

Seasonality - April supposed to be very bullish, now major deviation from the script

Conclusion: risk of dropping back was totally correct, hedging was the correct approach