The next few weeks hold the potential to be historic-to-the-downside. Looking over the past month of updates our message has been loud and unambiguous, buy index puts (SPY, IWM, QQQ), volatility calls (UVXY) and more recently some individual stock puts (AAPL,AMZN). This being the possible beginning of a precipitous Wave 3 leg down, it is not a time to be sitting on one's hands while being right about The Big Picture. Going into today's close I am particularly focused on SPX taking out it's May 20th low at 3810. If it falls, I have to wonder if Monday's Open takes place on time, or even on Monday at all. With SPX trading at 3900 mid-day, it is still not there, nor even close...yet. - Posted 2:00 pm ET. SPX UVXY: July 15th $20C (1.50-1.55) A UVXY spike to mid-30's takes the July 15th $20C up 10X
