I don’t call tops, I don’t have any control over such things. This is a bull market and is going to stay a bull market… until it isn’t.
There seem to be a lot more bearish signals than bullish in my scans, but this market is strong. There is no reason to get all panicked.
The SPX chart looks like it is flagging and going to move higher. The stochastic oscillators are overbought, but they can stay embedded for weeks or months at a time (daily interval).
I can’t wait to see what happens.
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Divergence Watchlist 10/15/2017: MDT, PF, IMPV, RMD, BAX
Watching: FDC, CLX, AMD, REV, LYB (2nd chance divergence flag), SFM, TSLA, LUV
Recap of Last Week’s Watchlist
- COH: Thrown off by a bit of news, changing their name (and ticker) to Tapestry. Still looks good for a move up.
- ETSY: Stochastic moved back down to oversold, trying to regain the 50ma and the channel.
- GILD: Hasn’t hit the buy trigger, good candle on Friday. Keeping close watch.
- GIS: Patience. Making it’s way to the buy trigger.
- K: Might be working its way down to the older lower trend line that is a little below where we are now. Watching and will likely be resetting the triggers on this one. Still bullish.
- KT: I set an aggressive target and it looks great. Don’t expect it to go straight up.
- KHC: Momentum is turning up. Looks good.
Check out last week’s Divergence Watchlist.
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