After the six-day 38.2 retracement off the March 23rd lows, yesterday's late decline and today's gap down open are strongly suggesting the market is resuming its downtrend from February. Yesterday's two buy signals appear to have been at the top. Who said this was easy? The Feb 25th Sell Signal is still wide open as it never closed near on its 50% trailing stop. It is currently up 835% from entry, with still over two weeks to go in April expiration. At $44 (bought at 4.80) we will be looking to roll those puts up to May out-or-the-money puts. IWM is set to open around $109, down from yesterday's close at $113. As always, it's not the open that matters as much as the close. Today's continued decline into the close will be pivotal.
