Dollar looks to be toasted for the upside in the near term. Could be ready for more upside sooner if we see a more dramatic drop off in price to around 99.40 (blue). Otherwise, we could correct this larger leg through time for all of February as well (purple).
Oil is pinched in a long term bimodal scenario. A wave 4 triangle looks to be carving out because of it, and the weekly mode has now shifted higher. While we could revisit the $46 level mode, I am leaning bullish after that given the outlook of the current PA.
Footlocker (FL) recaptured a key level last week. Last quarter, FL reported its highest level of sales ever, with both FCF 9% greater and D/E 6% lower than at last September's peak. However, I think I will wait to see a retrace or mode build at this level to offer a greater R trade, as the initial stop given the ...
Weekly price projection was met in a 3rd of the projected time. Will watch for a range expansion or strong daily close to enter this long. Check out some running ideas below, as well as a big picture SPY outlook by @IvanLabrie.
Today's close below a KEL spells trouble for Macy's , so il enter with .5% risk here and exit at the conservative target of 31.27. If we blast through that level I will simply reenter with another .5%. GL!