Since the March lows these early day declines have tended to fade out with the market sometimes coming all the way back to positive for the day. But today one of two key SPY levels has already been broken (trend line up from March 23rd) and another one is now being approached: SPY 300 A break below SPY 300 will put the entire 3-month rally up from the March 23rd lows in the rear view mirror. If SPY 300 is broken, make sure to have some index puts (SPY July 17th $300P or Aug 21st $290P) along with any new Sell Signals that get generated and sent out. For now, just one new confirmed signal: Short-Term Buy Signal: VXX Option: July $40C
