Today's update as of last Friday's close ... The predominant trend has not yet shifted to a down trend yet as seen in the chart below that shows 5 key indexes.
But, at the same time, the market is in a high volatility posture with high potential Danger levels. And ... the election is just a few weeks away, so there is a positive influence in the market.
That doesn't negate the high risk levels, so hedging is a smart thing to do.