[LUV] update

In the backlink  I modeled LUV as reaching its wave 2 target and so I was expecting a rapid reversal very soon. 


In fact, I was viewing the doubletop shown in this post as the buy signal for a 2nd set of $38 put options.  Since LUV has most likely entered a 3rd wave down at this point I still believe the puts are cheap sub $3.

Here is today's chart which shows the twin towers of my "owl ears" formation having broken down.  I do not count 5 waves down yet so it is too early to say this is confirmed but I don't think it should dally about at this point; that is not the nature of 3rd waves.