The Hourly Sell triggers posted on Wednesday were not hit and all have moved up with the indexes. If today's gains are erased and these levels are violated before the close then the outlook for next week turns even more bearish. Sell Signals Pending DJIA: Hourly close below 34300 (currently 34564) DIA: Hourly close below 344.50 (currently 345.80) S&P 500: Hourly close below 4180 (currently 4212) SPY: Hourly close below 419.00 (currently 418.12) Nasdaq 100: Hourly close below 13600 (currently 13730) QQQ: Hourly close below 332.00 (currently 334.60) If any one of these thresholds is met be alert for all of them to follow. If and when these dominos start to fall it's a safe assumption that all will and a new short-term leg lower has begun. Options Index puts that would be triggered if the above levels are hit. The June series are active only today as next week will start the July 16th expiration cycle as the preferred expiration series (i.e., "the next month"). QQQ: June 18th $325P (currently 2.80); SPY: June 18th $410P (currently 2.50); SPY: July 16th $410P (currently 5.50).
