Northrop Grumman fell hard with the rest of the market this morning and hit my target level and I closed the trade at a hefty 83% profit. Minor wave C just needed to clear wave A to satisfy EWP's "flat correction" rule and that's what it did. I think this can easily fall further to the 38% Fibonacci but it will do so without me in the trade as my objective was met. Click here for the original trade setup, and here's the conclusion:
Closed NOC July 210/220 put vertical at $6.75 for 83% 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.