Even with Star Wars hitting theatres in the next three weeks, share of Disney aren’t looking so hot, failing miserably at double top resistance. While the stock had a nice run off $90 low to test $120, the party is ending – at least, near-term. MACD, MFI and RSI are all failing, as well telling us momentum is shifting. Without risking the house, consider buying to open the DIS January 2016 110 put up to $3.
Even the Dow is looking terrible, challenging a double top under 18,000. Failure here on Fed interest rate fears could send it down in a hurry. Consider buying to open the DIA January 2016 176 put up to $3.80.
We’ll talk again shortly. Just be prepared for a great deal of market volatility, as we near a very likely Fed rate hike.
Ian L. Cooper
Rapid Retirement System