Wyckoff 2.0 on FDX
FDX is a market cyclical stock, it swings up and down with the boom and bust cycles. Talk of recession and economic slow down has it this stock hard, too hard, and we are getting a blow off bounce as a result. We have setup our FDX chart to short the stock when the real McCoy sell off comes.
Recently FDX cut its outlook, this does not bode well for world growth.
We want to short FDX, but the working dominant cycle suggest that more time is required to allow the automatic rally from the lows to blow off. We expect a consolidation range to be held at either $77 or $82. Expecting a bounce in a down trend. Watching with intent to short it.
We cant fit all our volume and other Wyckoff studies onto one chart. So we are only showing a small part of what can be done here.