The market indices are now all just one moderately weak day away from closing below their respective Fibonacci reversal areas. For brevity sake we can use the DJI as our guide. Shorter-term there are some opportunities showing up on in the Gold & Silver sectors, but the real winners lay in stock index puts as the next turn down should drop the DJI from 30,000 to 25,000 in a matter of days to weeks. For trading purposes we want to be adding puts on a DJI close below 30,000. New volatility calls will likely be recommended only if it appears that the Oct 21st calls look to be running out of time. Not there yet.
