Today's price weakness has broken key levels in SPY, QQQ and IWM. This is the trigger we have been waiting for to add to put positions. With a month left until October 20th expiration we are targeting the SPY Oct 20th series of out-of-the-money puts for adding to current positions and/or new money trades. SPY Intermediate Term Trading Model Any of the strikes in this table are suitable aggressive strategic bets for a new leg down. We are looking for anywhere from a 3X to 10X return based on current pricing and a 5% to 10% decline over the next 30 days. Best risk:reward strikes: $330, $335, $340 - in that order. IWM DJI The DJI has broken through two of three trend lines on its way to a major sell signal, a close below 34,000. We are getting increasingly short with SPY in this service (and QQQ & IWM in PRO Service) but the big break is just about 400 DJI points away. That's basically one bad day down from current levels. If 34,000 falls, 30,000 is next. Stand-by to add.
