Hubert Senters here.
Let’s take a look at Walmart, WMT. One of the reasons that the Dow was down most of the day today was Walmart. So one thing you need to look at when you’re looking at stuff like it’s somewhat more to find that are usually profitable and stuff.
But when you start seeing gaps like this, that’s a good sign. It’s gapping and going higher then it’s sold off with the rest of the market bounced off of their overhead resistance and then went back above.
So it looks like it was going to do the exact same thing the rest of the markets trying to figure out ‘’hey, I want to go substantially higher or am I going to roll over and die.’’
Unfortunately, for this one it has rolled over and died. It is actually closing below the cloud. So simple very easy way to deal with this thing tomorrow is just bracketed today and deal with it tomorrow.
So the market just closed just a few seconds ago so the high was around $97.99. Let’s just call it $98. And then the low was around basically closed at the lows, $94 so.
If it breaks the low tomorrow I would want to short that thing and then I would just look at closing these windows and closing windows is just a technical term that Candlestick analysis use. This is an open window it needs to be closed. That window will be closed when that gap is field right down here at $90.39. There’s another open window down here that needs to be closed at $80.75.
I am going to be doing a special webinar with Mark Helweg tonight, ‘’The Simple Hedge Fund Strategy, Tuesday, February 20th at 8:00 PM Eastern before he does his live class. I think his live class that we’re doing — I think it’s Wednesday, so this will be the last webinar before his live event on this strategy.
So if you’re interested you can show up tonight, Tuesday, February 20th at 8:00 PM.
Good luck. Hope it helps and I’ll see you on the webinar tonight.
Hubert.
