My last post noted the SPX could reach a major peak in just a few weeks.
You want to short weakness not strength. SHLD is one of the weakest stocks in the market.
SHLD has underperformed the US stock market since May of 2010 when it topped out at 98.29
Since the recent peak at 18.18 SHLD has declined in an Elliott five wave pattern.
Wave "5" made a new low with a small RSI bullish divergence.
SHLD appears to be ready to a minor correction to down trend. If it can rally a .382 retracement of the
decline from 18.18 is at 14.01 there is also resistance at the supposed wave "2" peak at 14.65.
The zone of 14.70 -14.00 is an excellent area to short SHLD.
Mark
You want to short weakness not strength. SHLD is one of the weakest stocks in the market.
SHLD has underperformed the US stock market since May of 2010 when it topped out at 98.29
Since the recent peak at 18.18 SHLD has declined in an Elliott five wave pattern.
Wave "5" made a new low with a small RSI bullish divergence.
SHLD appears to be ready to a minor correction to down trend. If it can rally a .382 retracement of the
decline from 18.18 is at 14.01 there is also resistance at the supposed wave "2" peak at 14.65.
The zone of 14.70 -14.00 is an excellent area to short SHLD.
Mark