Justiceisfalse
Short

Looks ugly for the week

AMEX:SPY   SPDR S&P 500 ETF
87 0 0
Short thesis:
Major trend from March 26 is broken.
Falling out of the channel this afternoon.
Intraday downtrend keeps on getting confirmed.
Major support zone not offering much support.......

Long thesis:
BTFD!
Higher timeframes are oversold....
Might get a rally in to VIX             expiration next week.

Strategies:
I lean short and whichever way one chooses to play this, a stop would be against 212.50
I missed selling the 213 calls this morning. Might look at selling 212, 211, 210 but lots of premium already erroded.
Could buy the 208 down to 207 puts
Anything outright would be on the ES with a stop at 2108
Targets are lower ES@2033 most likely
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