Short FDX/ BUY 8/18/23 P260
FedEx is up yet again for a third day in a row and up over 3% today. FDX is of course an economic bellwether and today is Fed day. Normally after the FED delivers hawkish news about wanting to slow the economy the market rallies that day before digesting the reality of the situation. I expect economically sensitive stocks to suffer tomorrow and FDX is a likely candidate. We’re also at a great resistance level pointed out on this stockstotrade chart near 270. 1 Star trade last half hour
