Note to PRO Service: I posted and sent out a special Alert earlier in the day. Since I did not receive my own e-mail copy it may not have been received by members of the service. If you missed it here is the link: Trading Alert- Breakdowns & Breakouts Below is the S&P Hourly, a shorter-term chart and one of the charts that was included in the PRO Alert, updated through the close of trading. Overlaid is my Elliott Wave count which if accurate suggests a heavy duty decline, a Wave 3 of 3, straight head. It is one of those times when the risk:reward of the option trading equation is heavily weighted toward reward. Risk is still there, but reward is jacked up by it looking like a Wave 3 of 3 down knocking on the door. S&P Hourly
