Home Depot reports earnings tomorrow. This could be telling for retail stocks.
If HD earnings come in negative this would drag XRT down and likely the market leading Home builders.
With the weakness in Lumber, Copper & steel weak earnings could be very likely.
Inverse Cup and Handle has formed over the last month for the retail giant.
The price yesterday broke below the Brim level.
This makes it bearish for downside to come.
200>21>7
RSI<30
Target R103.61
SMC -
Above the Handle of the Cup is a Buy Side Liquidity Order Block. This is where Long traders BOUGHT and Short Traders got stopped. Where the BUYING took...
Pattern played out too early for me,
so on the side waiting
for a retest to join the party
did not see this double bottom formed at the RSI, Missed the 6% move
Traders come in different shapes and sizes!
Mentality can also come in different shapes and sizes!
Some traders like to follow systems!
Some traders use creativity to spot patterns!
One thing won't work for everyone!
but the Beauty is
us traders have one thing in common...
trading psychology
it spares no one!
Retail Traders See Long, which they're not wrong, but that trend line support is a trap. We are potentially going to see a run on those stops and then a move up to reach for a Thursday High and potentially short or set up a short on Friday.
Its usually time to fade the American urge to "Eat Healthy this Year" by the time the leaves start showing up on the trees again.
Add to Krispy Kreme between 12-13 dollars.
"As society becomes more and more complex, cheating will in many ways become progressively easier and easier to do and harder to police or even understand."
I expect price to pierce the remaining liquidity with the news today.
Understanding where price may flow is easy, finding a sell entry is the difficult part.
I have marked an 'expected sell' zone but the reality is it could sell anywhere between now and the previous high.
So for now I will just be observing and if intuition tells me to sell, I will.
Good luck...
Rejecting down trendline, below 50 DMA and the option flow ratio for March 17th is 4:1 puts.
Very strong numbers from economy today, which means the FED will have to raise rates again at some point this year.
I have been following the FOMC for 6 years, take every meeting cautiously. We also have CPI numbers on the 14th.
I am holding MArch 24th 61 puts at $1.15
GL!
“Inequality can be done away with only by establishing a new society,
where men and women will enjoy equal rights,
resulting from an upheaval in the means of production and in all social relations.
Thus, the status of women will improve only with the elimination of the system that exploits them.”
Lumber Liquidators looks good for a reversal.
Small share...
Digital Brands Group, Inc. provides apparel under various brands on direct-to-consumer and wholesale basis. The company offers denims; and men's suiting. It also designs, manufactures, and sells women's apparel, such as dresses, tops, jumpsuits, bottoms, sets, jackets, and rompers; and sweaters, skirts, shorts, athleisure bottoms, and other accessory products. In...
"Consumer retail is 70% of the economy". If anyone know where we are heading next, it should be the major big box and big web consumer retails names in the "WATCH" INDEX. WATCH is just Walmart Amazon Target Costco and Home depot added together.
Head and Shoulders formed on Pepkor a few days ago.
The price broke below the neckline accompanying with other bearish signals.
200 >21>7 MA- Bearish
RSI<50 - Bearish divergence with lower highs
Target R16.38
ABOUT THE COMPANY
Pepkor was founded in 1965 by Renier van Rooyen and his wife, Elsie.
The company started as a small clothing store in Cape Town,...
Young corporate executives in Mumbai, who may never have read Marx, were recently circulating by e-mail portions from Karl Marx's 150-year-old writings which lucidly talk about a stage in capitalism where banks would throw ever larger doses of cheap debt for consumption until there is a crises of repayment and the state would step in to take over the banks....
Falling Wedge which looks more like a rectangle flag formed on Metair.
We then saw a Major breakout today.
The next target is generally to the top of the formation.
However, we have mixed signals and a warning.
200>21>7 - Bearish
RSI>50 - Bullish
Target R30.00
WARNING
We need the price to break above the 200MA to indicate it's in a confirmed uptrend. We...
Target reached at R68.24
7>21>200 Bullish
Cup and Handle worked and now we'll await the pattern.
RSI >50
Look, the trend is still up and so we'll need to wait for the next setup.
W Formation has formed on Shoprite.
The strangest thing is that the 200MA is actually the Neckline of the pattern.
so if the price breaks below the 200MA, all Heck is going to break loose.
There are other bearish signs like
21>7>200 RSI<50
Bearish bias
My first target is R189.75.
CONCERNS:
We haven't had a break of structure yet. This means, the position will...
