Home Depot is on my watch-list for a short. With recent
weakness in consumer discretionary and warnings from the
CEO of Walmart and other earnings misses such as lumber liquidators I see
weakness in this sector. .Big money is already selling ahead of earnings. I will wait for my setup. Will need two red bars below the 0 line on the Awesome Oscillator
and I...
Using Volume Price Analysis, I have established a sell line or 21 days where the insiders have sold heavily. Watch for the negative media to start ragging on home improvement or HD in particular. Symmetrical Triangle forming. Looking for it to break to the downside.
Pretty self explanatory this is only a short term move but could very well turn into more than a correction if the DJIA goes sour..
GLHT from Jimmy Gomez
HD is trading below the channel established since 2011. Also the trendline is broken. It may be forming head and shoulder top with neckline support at 73. It is a short candidate below 73.
HD only bounced briefly to 76 earlier this week and I posted on the previous HD chart that I would sell a gap over 76 or 77-78, HD didn't reach my levels. I am willing to get back in on the short side here with a target of 70-68 as labeled on the chart.
The home building stocks have continued lower and HD failed to rally despite raising guidance and beating...
