Is A Reversal Coming?

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HON Short Setup

Hubert Senters here.  Let’s take a look at Honeywell ticker symbol HOE. And I don’t know why I’m stuttering here, but I did. Alright, so Honeywell looks way better short than long. Now one of the things that’s still black on the short side here is, there’s just an old saying sold go go. So goes Goldman, so goes the rest of the market. It’s not always true, but it’s a good little axiom to measure yourself with. And the market today was below the cloud on Goldman Sachs. So little even though the technicals on the futures are up, not everything is going up. So it’s selective stuff that’s up. So you have to be selective on the Long’s you want, or you can just go with something that’s probably going to go lower too. So in this case, you got a little gap here got a little gap here, and then you have another gap. In this situation, a short with a stop of about 213. Well, actually, I’d make it tighter. Next, that’s too much risk for the straight, I would do a risk of tuna shorted here at 204. And first target would be 199. Now that’s not a great risk reward ratio. But if it cuts through that low like a hot knife through butter, it could potentially open up the floodgates for a next target of 195. And then after that 184. So the initial trade would be to get the breakeven as soon as I possibly could. And then go for target two and then target three,

I’m going to be doing a special webinar on the mother of all bubbles. This is a special webinar on trends and trend reversals. This is good for the markets way too high and about the sell off and it’s really good for when the bottoms are being put in place. It’s for trend Trading and Trend reversals and how to recognize them and how to potentially profit from them. So that webinar will be Thursday, December the 9th at 8pm.

Good luck. Hope it helps. And I’ll see you on the next video.

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