The Vix and the XIV have proved useful hedges so far this week. Both have more to go, suggesting current weakness is not over yet, largely due to Facebook. The rinse out has another leg down in it over the next 48 hours. Be careful. Rallies are not trustworthy until FB stabilises.
Hope you're not going to need this next week. But I suspect you will judging by the look of too many major charts right now. It may never happen.But this is good way to cover yor back in a panic situation if it arises, and major charts break down as per all other comments this weekend.