Holiday week trading is generally light volume, meaning in general, far fewer stock shares are exchanging hands as all the big players are already on vacation. Look at the volume bars to compare holiday week and ordinary week trading to see for yourself. This means price volatility will be typically greater than normal. So not a great time to start or add to positions.
The market remains in a correction, meaning the short term weekly trend is still down. Until it breaks out of that channel in a big volume reversal day, the correction is the dominant trend. Swimming upstream is slower than downstream if you want to cover ground. Last Friday was encouraging in terms of making a case that the correction may be close to ending, but don’t trade against the trend.
If you have profits in your positions, adjust the stops so gains do not turn to losses.
Alternatively, you can hedge against a short term dip by purchasing some SH, which is an inverse ETF to the SP500. If the market dips, you make money on SH to hedge your long positions. SH is at support hereon a daily chart at the 20 day moving average line, which matters because it has been both support and resistance in the past. If you want, buy some SH, small position, with a stop below the 20DMA, perhaps at 34.95. If the market moves higher, the hedge with get stopped out, if it dips, make some money on SH. We can discuss when to sell it as the situation unfolds.