The DJIA and SP-500 are completing their fifth waves of either A or 1 down. We should see a retrace up to 1670-80 in the SP-500 before we get short again. I have purchased SPY September 165 Calls for in and around 1.95 as well as GDX September 30 Puts for in and around 1.05.
SP-500 Setup Chart:
Prior Setup Chart: