Short the S&P 500 Risking $970 To Make $3030

by | Feb 20, 2018 | Market Updates

The stock indexes have rallied into Fib and Elliott Wave resistance and it’s time to get short. Here’s the options trade we did with our subscribers today…

 

Traders, I’m happy to announce that my company, TradingAnalysis.com, was chosen to partner with Elliott Wave International on a trading alert and analysis service. Elliott Wave International is one of the oldest and largest market forecasting companies in the world and has not structured a relationship like this in its history. We are extremely honored and will be working hard to provide timely and insight analysis and trade signals in the stock, futures, commodities, and cryptocurrency markets.

7 Comments

  1. Victor Pereira
    Victor Pereira on February 20, 2018 at 9:10 pm

    Interesting I have your C labeled as 1 and I’m waiting 2 retracement. Though we’re expecting the down move we have completely different ideas.

    Truth be told the depth of the correction is correct but the time was too short. Which has me doubting on what is actually hapenning.

  2. ALEXEI
    ALEXEI on February 21, 2018 at 12:26 am

    PRIVET TED, PRIVET FROM RUSSIA ON MY COUNTINGS SPY MUST LOSE STILL BELOW ON 120, HOW DO YOU THINK ABOUT THIS? AND WRITE HOW TO CORRECTLY RETURN FROM OPTIONS, THANK YOU

  3. ThirdWaveUp
    ThirdWaveUp on February 21, 2018 at 4:42 am

    I’m with ya on that wave count Todd

  4. Rich O
    Rich O on February 21, 2018 at 8:19 pm

    I’m sticking with EWI on the count. The throw-over was a classic end to five up, at 3 degrees,no less. We completed (i) down and (ii) up to a nearly perfect wave two retracement. Now we are heading into (iii) down, and fasten your seatbelts.

    Here’s one for ‘ya. Certainly somebody has already thought of this one. “Keep calm and trade on”

    • Todd Gordon
      Todd Gordon on February 22, 2018 at 4:34 pm

      Such a beautifully written post! I’m short and added more size for w.(iii) down today at the close, but it’s not looking impulsive yet. SO far the sell side has been riddled with overlap. We need to be careful!

      • Rich O
        Rich O on February 22, 2018 at 7:03 pm

        Hey, thanks. I agree, we must always be open to alternate counts as the waves develop. I should have said “could” be heading into a 3 down, however, as you stated it’s not looking impulsive. To me, the action from Feb 16 looks like it could be a complex W4 following a pretty clean 3 up and alternating with a simple W2 in the Feb 12 area. We’ll have to watch and see. Thanks.

  5. Souheil El Azouzi
    Souheil El Azouzi on February 22, 2018 at 7:35 pm

    Hi Todd,
    Would it be possible to point us to an article or explain how to convert the option position into a CDF short position with SL and TP?
    Thank you in advance
    Souheil