This is the projected price pattern that would cause me to enter a new position in IWM puts. It's a an EW five-leg downtrend interrupted by a 38% countertrend a-b-c rally. Below IWM $220 (taking out that "b" wave low) would suggest that a new leg down has started to below $200. Again, if IWM $$220 is broken to the downside monitor website for new PRO Trade Alert.
