XLC 5 wave completion (New -ve Delta Butterfly Spread )
XLC is dancing on the edge of a potential decline with significant resistance and a potential double top into the 57.62 level. We are considering this entire 5 wave impulse as complete with a potential (A), (B), (C) decline. Looking to place a 60/49/47 Put Debit Butterfly expiring Aug 21st with debit no more than 3.60