Weakening Wednesday – Market Picture Begins To Look Grim
October 01, 2014 at 10:08 AM EDT
We've failed the 50 dma on the S&P, Nasdaq, NYSE and Russell and the Russell failed its 200 dma long ago. We're still waiting for the Dow to cross below 16,940 and confirm the carnage but we made those bets long ago with our DXD Oct $24 calls, which are now 0.70 from our 0.45 entry back on 9/18.