I have no idea whether we will go up or down from here. So I use "SPX intraday high - 1.1%" as my trailing stop point. Currently it is at 1189. So I will hold my short-term long positions (such as ES, SPY, etc) unless the trailing stop is trigerred.
Do not know if this is the correct strategy? Another option for me is to take profit here right away at 1201 (my cost is around 1183). What do you think?