For the remainder of the month of June we will be keeping close tabs on two key markets for our shorter-term trading, IWM and SLV. I covered IWM yesterday (In both PRO and Premium Services) and am updating the chart below. IWM The Jul $195P is preferred trade for next leg down, targeting IWM 188-175. SLV As for Silver (SLV), today's decline places SLV right in its Wave 2 (circle) Fibonacci retracement zone. The key take-away is that any robust rally up and out of the zone is a strong indication that a Wave iii (circle) rally is beginning, targeting SLV low 30's and presents a fresh buying opportunity for July SLV calls, but only upon a breakout above Fib retracement zone, i.e., > $28. New SLV Calls: Only on breakout above Fib retracement zone:
