EOD Indications

I'm not worried about that IWM Put, although it was fun watching it move in value pretty fast.

The Index futures (intraday) for the most part (ES not so much) are doing the same thing as the IWM...

 Intraday NASDAQ 100 futures leading negative

Russell 2000 futures intraday leading negative

These 1 min charts of futures I don't trust to hold overnight like the 3C charts of the averages, but it does show what's going on in to the knee-jerk move, confirming what the averages, especially the IWM are showing us.

Speaking of which...

 The IWM is still leading negative, in fact you can see a worsening divergence on the pop back up after the initial decline so I'm not concerned, especially with all of the other charts/timeframes, at least not for the Put position.

I think this probably puts the "W" formation back on track, although we'll have to really watch it and make sure it's still a base, that means falling prices need to start showing accumulation, otherwise this base that has been put in so far is or was simply for the move off the lows and the knee jerk reaction which as I said is possible on leaked data which has happened before.

The NYSE TICK isn't "screaming" anything, but it is negative at the second high, so it too is supportive of what we saw on the IWM charts.

I'll check leading indicators as well, but I feel pretty comfortable with present positioning.