I closed my Qs calls this am on the initial pop-up for a net gain of zero. Ditto on the IWMs except I took a .03 loss due to volatility adjustments by the market makers.
The VIX showed the wide range, high close bar on a parabolic curve that I was expecting. At the same time the Qs displayed a wide range, close low bar right at the 50 day MA. Qs volume today was the highest since February 27th and with 7 down days on increasing volume the Qs may be ready for a breather. However,with a closing TICK of -680 and all technicals deteriorating, expect more downside follow-through to precede any turnround on Monday.
Clueless has examined the data on a weekly timeframe, and that scenario looks a lot more iffy. Take a look.