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Preface to all parts: the market in general is rather uninspiring right now. There are plenty of individual stocks, however, with very interesting patterns. I have gathered up dozens of the most interesting charts and put them into groups for your perusal. This particular set are stocks which have sold off very hard and are at risk of a big bounce. I have taken profits in some cases but were these to rally back up to their horizontals, I'd be interested in getting back in again.
I wanted to be short ETSY since it was a beautiful H&S pattern, but it was too cheap. Well, with this morning’s rally – – problem solved!
I am still keeping things light. One item to watch is FNGD, the triple-bearish fund based on the FAANG stocks. The closer we get to the green pattern, the more appealing the idea of shorting becomes for the market in general.
Wow, what a great day. I’ve got my dogs with me. It’s pouring outside. There are thunder and lightning (rare around here). And the market is solid red.
Anyhoo, keep a close eye on this supporting trendline. It’s one of the few things holding up the market until all holy hell breaks loose.
