It is oversold on 4 Hrs timeframe and of course the lovely Turnaround Tuesday is very close, so I think people again will frontrun it and will buy already today. I recommend partial take profit on shorts, and put options and/or cover the positions with 1720 June or 1750 May Short Puts (selling puts for premium). This is what I have done today.
My bias is still , as I think mkts in general do not price risks properly. Let's say do not price any risks, not really sensitive to Ukraine or anything else. In a retest to 1840-1850 I will close these Short Puts, which means I will increase position again, if the technical setup will be reasonable.
In line with this recommendation I do the same with my European shorts for now too. Please see the referring prev. trade ideas below.
Looking at the daily, it is still a wide range trading. The lower support is the most important at 1810.
All indexes has to break together to see a real bear mkt and bearish trend to start.
If it reaches the 1866 or goes higher I will evaluate again the indicators and chart components. Meanwhile I still believe the best way is to play these choppy mkts is to trade through contract options. Somehow I sleep better with those. Or do a mix of options startegy and outright positions.
FYG now I don't have bearish positions left on equity indexes. (actually I have one smaller June Put Spread with LP@1840 SP@1720, zero cost.)