The indices are breaking down in an orderly fashion, which is not a hallmark of third waves. Instead, there should be more chaos, fear and panic. Until then, we should assume the heart of the third wave down is still ahead and option traders should be building an arsenal of short positions, i.e., puts in any or all of the three indices below. SPY Daily QQQ Daily IWM Daily PRO Nov-Dec-Jan Arsenal Added SPY $410P today on SPY breakdown below 415.
