The rally up from last fall's lows may have finally run out of steam as the major stock indices appear unanimous in their reversal patterns. We started nibbling on short positions (long index puts and long VIX calls) over the past week and are well positioned for a major decline. Based on what I am seeing in the charts all of option positions recently added are still buyable as the decline is still in its early stages with the ultimate lows not likely until October. SPY Intermediate Term QQQ Intermediate Term VIX Daily First VIX Buy Signal on chart in Six Months PRO Service - Best Bets For A Market Decline
