Editors Note:

The major indexes turned decidedly bearish and the approaching three-day weekend has significant event risk. Futures are down again on Wednesday evening. Any bearish play we could add would receive a bad fill on another gap down open. Launching a bullish call play in a declining market would be foolish.

Saturday is the biggest holiday of the year in North Korea and they typically celebrate by launching missiles or setting off bombs. They are expected to do a nuclear test on Saturday unless China's president has called on the hotline threatening them if they follow through with a test. The U.S. has a carrier strike force moving into position and expectations are for a U.S. reaction to any violation of the UN sanctions. This 3-day weekend probably has more event risk than any in recent memory.



NEW DIRECTIONAL CALL PLAYS

No New Bullish Plays


NEW DIRECTIONAL PUT PLAYS

No New Bearish Plays