This trade is great because you can see multiple levels of resistance that it can reach up to. When SPY recovers if this stock can maintain heavy volume on compression you could see an easy $2 winner here at least. The exit will likely be unclear as it rebounds off resistance once or twice and then drifts into a new trend.
Entry: $20.41
Exit on loss of relative...
This stock has fantastic relative volume but it looks like FLO might be losing it unless SPY returns bullish. Only problem with this ticker is the previous highs are steep temporary peaks. So if you see stacked big red bars, FLO might not be back for a year. If you enter you will have to monitor this every day.
Entry: $29.25
Exit: $30.25
BBL is hovering despite SPY falling giving you the opportunity to jump in after BBL moves above $66.50 ish. On SPY recovery look to BBL for continued heavy volume and relative strength. Exit is probably near the 52 week of $68.
CHD remains near it's all time high and SPY pukes it's guts. When SPY recovers if CHD is still recovering set an alarm above the compression and wait for it to breach upwards on heavy volume.
This trade will need to rely on SPY to get it's act together. Considering the way it's been able to hold and grow YTD when SPY finds it's support eventually and lifts again this would be a long swing for maybe 1 to 3 weeks. If it doesn't react to positive SPY changes don't take the trade because it lost it's relative strength.
