Over the past few days the market has been in a slow motion reversal to the downside, as chronicled in our PRO and Premium Service updates. That reversal appeared to be picking up steam out of the open this morning, but mid-morning is showing signs of stalling. Last hour today could be critical for next few days/weeks. Stay with "Key Level" strategies as outlined in the updates. Current PRO Service positions should looks something like this, although strikes and expirations may vary based on choice and depending on when the positions were put on: Adding to the above positions is an imminent short on SPY (Premium Service) with a close below $450 (SPY currently 447.91). These are the two recommended SPY positions: SPY Sep 15th $450P (11.50 - 11.52) or Oct 20th $430P (6.15-6.17) Ideally, spread expirations out from August to Sep to October, via monthly expirations. For stocks and indices monthly expirations are the third Friday of each month. QQQ 240 Minute Trading Model VIX SPY Intermediate Term Trading Model We want to be short SPY by owning Sep 15th or Oct 20th puts if its below 450.00 Bonus Bet IWM Daily IWM is set-up to drop over 50 pts in 78 days, generating a massive return on these out-of-the money puts: IWM Oct 20th $185P (3.60-3.65) Target: IWM <130; $185P > $55
