Sunday night's 50-handle drop in S&P futures reversed by morning, with the index now trading up around 69.55. Volatility retreated from 19 to 18.30 overnight, highlighting the difficulty of planning trading strategies amid rapid market shifts.

Gold surged to $5,100 while silver made an even more dramatic move, jumping nearly 8% in a parabolic rise that traders view as potentially concerning. Natural gas has also seen significant volatility, climbing from 28 to 38 in just days.

This week brings crucial earnings reports from Apple (AAPL), Microsoft (MSFT), and Meta, which could determine market direction. Speakers suggested long NASDAQ/short Russell positions might be appropriate, noting the Russell's recent strength has signaled "risk-on" sentiment.

For most premium sellers, profits typically come from accumulating many small wins rather than a handful of large gains, with most successful trades occurring in frequently traded high-volume stocks.