Trade Idea: Short ES @ 161.80% Fib Level --> 2235-2240
1) 2338.75 represents 161.80% Fibonacci extension of the 2134 to 1802.50 move from May of 2015 to February of 2016.
2). Large put/call option open interest at 2250, 2325 and 2350.
3). VIX at sub 11 levels, 14 day RSI at 69, and SPX Shiller P/E @ 28.
4). Trade idea: Short ES_F @ 2335, S/L 2365, target 2255, risk $1,500 to make $4,000 per contract.
2). Large put/call option open interest at 2250, 2325 and 2350.
3). VIX at sub 11 levels, 14 day RSI at 69, and SPX Shiller P/E @ 28.
4). Trade idea: Short ES_F @ 2335, S/L 2365, target 2255, risk $1,500 to make $4,000 per contract.
Comment:
Correction. Title should read 2335-23340, not 2235-2240.