I like puts/shorts here. Analysis is on the chart. Let me know what your thoughts are, whether you completely disagree, or agree. Love to hear what everyone's thoughts are.
What I believe we have setup is a large head and shoulders. Thinking moving into next week we see a move to the $306-307 area before we make our next led down. Looks like it wants to fill the gap up at $307.41. After then my pt is $250-$260.
MACD is about to death cross on the 1hr, and 8EMA looking to cross under the 20EMA. Just broke out of the rising wedge. Lots of negative sentiment about our economy overall as well, nothing positive. Target is $364. NFA
Looking at the chart there is an inverse head & shoulders forming, however it will need to hold $168 for this to play out. With MACD looking to cross, under $168 will be a good area for puts.
