And if the market manages to clear and hold 2680, then we’ll assume a move to 2800 is on deck.<\/p><\/blockquote>\n
Today, 2680 was breached, but it didn’t hold. For me, the logic is simple. If we can manage to hold above that, then we’ll be off to the races.<\/p>\n
And a test of the 200 day moving average would signal SIGNIFICANT technical deterioration.<\/p>\n
Where we stand right now… the past month has been an ever tightening range and we should expect volatility expansion sometime soon.<\/p>\n
Trade #1: AAPL<\/h2>\n
![\"\"](\"https:\/\/trades.iwopremium.com\/wp-content\/uploads\/2018\/05\/img_5af0af906f847.png\")
<\/p>\n
Great rip after its earnings. It’s overbought in the short term and put in a reversal candlestick (open and close at the low of the range).<\/p>\n
I’d like to see a pb2bo, pullback to breakout. The breakout bar from yesterday… at the 50% level of that bar is where I want to start. If hit, it will also coincide with some short term rising moving averages as well as the 1st std dev upper bollinger band (not shown).<\/p>\n
Trade Setup<\/strong><\/p>\nExpected Price: 181.21<\/p>\n
Sell to Open Jun 170\/165 Put Spread<\/strong><\/p>\nTier 1: Enter at 0.65, Exit at 0.15<\/p>\n
Tier 2: Enter at 0.95, Exit at 0.45<\/p>\n
Tier 3: Enter at 1.25, Exit at 0.75<\/p>\n
<\/p>\n
Trade #2: FDX<\/h2>\n
![\"\"](\"https:\/\/trades.iwopremium.com\/wp-content\/uploads\/2018\/05\/img_5af0afc08ed2a.png\")
<\/p>\n
I’m looking for a stop run under the 200 day moving average and a test of the range lows. We would need to see some REALLY nasty price action, but if it happens quickly I want to be involved.<\/p>\n
Trade Setup<\/strong><\/p>\nExpected Price: 225<\/p>\n
Sell to Open FDX Jun 220\/210 Put Spread<\/strong><\/p>\nTier 1: Enter at 2.25, Exit at 0.80<\/p>\n
Tier 2: Enter at 3.00, Exit at 1.50<\/p>\n
No Tier 3<\/p>\n
<\/p>\n
Trade #3: LULU<\/h2>\n
![\"\"](\"https:\/\/trades.iwopremium.com\/wp-content\/uploads\/2018\/05\/img_5af0afebd6453.png\")
<\/p>\n
I’ve been trying to get a reentry into LULU and now that it’s seen a BIG pullback, I’m looking for a second leg lower into retracing 1\/3 to 1\/2 of the most recent rally.<\/p>\n
Trade Setup<\/strong><\/p>\nExpected Price: 93<\/p>\n
Sell to Open LULU Jun 82.50\/80 Put Spread<\/strong><\/p>\nTier 1: Enter at 0.45, Exit at 0.10<\/p>\n
Tier 2: Enter at 0.60, Exit at 0.35<\/p>\n
Tier 3: Enter at 0.75, Exit at 0.50<\/p>\n","protected":false},"excerpt":{"rendered":"
The main pivot level to watch now is based from the previous newsletter: And if the market manages to clear and hold 2680, then we’ll assume a move to 2800 is on deck. Today, 2680 was breached, but it didn’t hold. For me, the logic is simple. If we can manage to hold above that, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[24],"tags":[],"_links":{"self":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/10822"}],"collection":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/comments?post=10822"}],"version-history":[{"count":1,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/10822\/revisions"}],"predecessor-version":[{"id":10827,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/10822\/revisions\/10827"}],"wp:attachment":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/media?parent=10822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/categories?post=10822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/tags?post=10822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"\"](\"https:\/\/trades.iwopremium.com\/wp-content\/uploads\/2018\/05\/img_5af0ada6cfe6f.png\")
<\/p>\n