Major Confluence in $WHR
Whirlpool Corp. ($WHR) has been trending within a well-developed channel for months – and looks poised for another bullish run within its boundaries! Confluence may play a part in the next run to $93.
Whirlpool Corp. ($WHR) has been trending within a well-developed channel for months – and looks poised for another bullish run within its boundaries! Confluence may play a part in the next run to $93.
Baidu, Inc. ($BIDU) has been an incredibly strong stock over the last 18 months, rallying from $10 to $82 during this stretch. However, $BIDU could be headed for a short term pull-back, which means we could see price drop back toward $75 over the next few sessions.
The Financial Bear 3X ETF ($FAZ) is sitting on a three-month critical support level at 13.60 and seems to be teetering on the brink of a break. A violation of this line could lead to another wave of selling pressure back toward $12, or lower.
The market is clearly winding up for a major breakout opportunity, as evidenced by the 1,000 point triangle that’s building out in the $DJI. I’ve got three stocks to watch that are poised to move once direction is decided.
The ES played extremely well off our Action Levels yesterday, as two decent sell opportunties led to moves of 12 and 9 points. Given yesterday’s relatively quiet trading day, we could see another explosive breakout/trend day upon us. Let’s take a look at the levels to watch for today’s trading.