JCI decided to traverse higher for several days in what appears to be a "flat correction" with wave ((b)) [not shown] testing the Minor wave 1 high and reversing. The decline this morning as part of Minor wave 2 satisfies my objective and therefore I closed the position at a nice 48% profit. The original trade setup is located here. Here is the trade conclusion:
Closed JCI July 15 41/45 put spread at $1.85 for 48% profit
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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.
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