High probability that we see a reversal down from here because:
1. Double top
2. Low volume on 10-Jan
3. Exceed Average bull retracement in bear market of 10% since bottom
Rally is overdone.
Each correction down latest about 8 to 9% before taking a breather.
No market goes straight down.
Expecting a bounce next week in the short term.
The last time BBY was in a downtrend with earnings release was 16 Nov 2017. 4-weeks after that the stock was higher; this was the case even through earnings per share was a miss (0.78 versus 0.79 consensus).
This time, expect an earnings per share beat for 20 Nov 2018.
Long at or around $68, Hold until $80 the resistance of current channel. Hold position until...
