The S&P 500 selloff appears a bit overdone in the very short-term, and the VIX reading a bit unsustainable too. 

For reasons related to the August non-farm employment change on Wed August 5, and the Friday August 7 non-farm payrolls positive surprise, I see it justified to enter on the long side in anticipation of not so disastrous reading as the market might be anticipating - please see below.

Trading position (short-term; futures; our opinion): long positions (100% position size) (entered at market, which is 3460 currently) with stop-loss at 3430 and initial upside target at 3500 are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.