Ok guys, here it is. We could be in the process of making that higher low, and then subsequently sprint higher, changing the trend from bear to bull. Alternatively, we may have just retraced to the “scene of the crime” for both the death cross and head and shoulders top, before we head back down and break to new lows, solidifying both of those technical phenomena.
Either way, my best advice is to hold off on getting caught one way or the other. Both bulls and bears have strong arguments here, and we are just going to have to wait for things to unfold before getting aggressive again. Further, even if we do make a higher low, we could easily chop around for a while being moving higher, seeing as we are still in earnings season.
Finally, here are some names on my list of scans that I am looking at for potential longs:
- $NR (already own 1/2 position)
- $SAPE
- $NXTM
- $VRX
- $LSCC
- $PACR
- $VLTR
Nice shopping list. SAPE in particular looks promising if the market reverses on that higher low.
where do you see a higher low BRO?
we have 3 lower highs and 3 lower lows since the April top
furthermore we hit the top of the descending channel and are heading down
need 10,150 to hold
Pete and Repeat went boating, Pete fell off…
who was left?
Repeat!
we have 3 lower highs and 3 lower lows since the April top
furthermore we hit the top of the descending channel and are heading down
need 10,150 to hold
Pete and Repeat went on a boat, Pete fell off.
who was left?
repeat?
we have 3 lower highs and 3 lower lows since the April top.
furthermore we hit the top of the descending channel and are heading down.
need 10,150 to hold.
Pete and Repeat went on a boat, pete fell off…
who was left?
hahaha
Sam–I am keenly aware of all of that, as I indicated in my post today and over the past few weeks. However, it is not a slam dunk that we make new lows and continue the downtrend.