Two helpful guides on the move down have the Fib Retracement Zones (shaded rectangles) and Key Level lows (impulsewave support rays). The former have been opportunistic shorting zones for initial swing trading puts and the latter opportunistic levels for add-on positions when convincingly broken through. Can swing trading be that easy? Yes and No: No, its not easy but yes, it sure can work. DJI Daily To keep it simple (for today), let's zero in on the Dow 30. Note how well this SuperTrend Model has been catching intermediate term turns. Now let's take a peek at the unfolding EW pattern, a third wave down at multiple degrees of trend: DJI 240 Minute A break < DJI 32,850 - which is about 200 points below current levels (11:00 AM Mountain Time) should ignite an acceleration down into a cluster of third waves at multiple degrees of trend. That break would be a logical trigger to add to a short positions across SPY, QQQ and/or IWM. Premium Service Current Put Positions: SPY, QQQ, IWM IWM 240 Minute This index has the most ominous look to it, steep, precipitous, dangerous, but most of all: OPPORTUNISTIC for out of the money puts. I don't know why other trading services stick to SPY and QQQ when the big money this fall is being made in IWM. Their loss. Any IWM close < 162 would be extremely bearish - look at all of those threes! Attractive Nov Strikes At IWM $150, the $165P is worth $15, about 5X current value.
