It looks like some of the Tim Allen/”Tool Time” stocks (of Home Improvement fame), Home Depot and Lowe’s, are notable laggards in today’s tape. Both stocks, seen below on their daily charts, are breaking down from well-defined bear flag patterns.
These were monster stocks for most of 2013 and earlier this year, quickly stopping me out of a few short attempts. But now the tide seems to be turning for at least a deeper correction, if only to reset the multi-year bullish patterns.
Still, going forward rallies are likely to be sold, given the damage sustained on these daily charts thus far.
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Lol thought that dry snitching finally came back on tool tim for a sec
LoL