Two hours before the close of the trading session the Dow is trading below its rising counter-trend channel. I'm looking for a (visible) close below the channel to add to short positions (March 18th index puts). A failure to break down below the channel means this retracement torture will continue a few more days. DJI 120 Minute DJI Daily If the Dow looks like it will be closing here, or lower, that's all the confirmation I will need to add on more out-of-the-money index puts among this group: Mar 18th IWM $200P (5.20-5.25) Mar 18th QQQ $350P (8.40-8.50) Mar 18th SPY $450P (11.50-11.60)
