The last hour on Wednesday bled red and when combined with today's weakness, close to a 500 DJI decline from the pre-FOMC rally. Be on guard for the kick off to seasonal selling we have been on the look out for since late August. We covered the key levels in Tuesday's update, and just below an SPY continuation chart with relevant new option picks: SPY Intermediate Term Trading Model - On a Sell and breaking down TLT Intermediate Term Trading Model Trade Management Note: SPY Oct 20th $430 puts have more than doubled since mentioned as a potential Buy in the Weekend Update: "If stopped out by SPY 50% drawdown get back in on any break of the key price levels on the SPY chart above. As for TLT, this is a December monthly expiration with a lot of time still left for this trade to unfold." Most Attractive SPY Strikes DJIA - Closer to Major Breakdown < 34,000 IWM - Leading the way down
