SPX Trading under 4435 (currently 4430) it is close to generating the breakdown discussed Tuesday: See here. It would suggest a weak market into the end of the 4th quarter, Sep 30th, or beyond. VXX On a close today above $27.00 (currently $26.85) we want to be Long Oct 15th calls. Best looking strikes are $25 (conservative); $27 (aggressive) $30 (nuts - but with a full month to expiration, an out of the money VXX call has tremendous leverage). Oct 15th $25C (currently 3.30-3.40) Oct 15th $27C (currently 2.75-2.80) Oct 15th $30C (currently 2.18-2.20)
