More and more stocks are hitting bearish signals and exhibiting overbought conditions which lend to my theory that my bullish wave count of the stock market is in jeopardy. Here I see WCN hitting a wave c of (ii) down towards the $62.50 level. This option trade is low risk, but as a result, returns would be small as well. Here is the trade I made:
Buy to Open WCN May 20 60/65 put
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.