$CSX has had a significant run here and just broke trendline support.
Looking for a target to at least .50 retracement with this kind of run. There also happens to be previous support in the 46.20-46.50 range.
Will look to take off put debit spread in this area.
The stock market rally isn't over & bonds may not get bid for a while. Short-term the stock market may see a Wave 4 corrective pullback but my count still shows a Wave 5 leg in the future. Based on my outlook on the dollar strengthening and the stock market continuing to rally I am short bonds. I am slightly late to the Wave 5, so our risk will be a slightly...
Longer term trade here with fundamentals and technicals aligning.
Technicals
I will be shorting EEM as it has completed 5 waves inside of a long-term downside Elliot wave. We will be looking to short EEM as it completes a long-term wave 5.
Fundamentals
The US Economy is strong. The Fed will more than likely hike rates in March or soon after. The rate...
Played $ebay to the short side today with options.
Play
Bought 34.5/33 Put Spread for .57
Reasoning
Competition of Daily Elliot Wave 5 count inside of Weekly Elliot Wave 5.
Held .786 Fib Extension of Wave 3 resistance.
50SMA was left in the dust. Looking for a convergence before continuation.
I will posting updates to the trade as I adjust my position.
