(NYSE:LNKD) is higher today as the market continues its rally. However, inside the rally there are bear
clouds forming. The recent strong bounce on LinkedIn
has created a bear flag
. Not only is it a classic flag pattern
that favors the downside but the stock price just slammed into the 50 and 20 moving averages. This has 'short' written all over it. The stock should fall back for a few days off this level. This is a fantastic chart setup.
Chief Market Strategist