The topping pattern on BBY has a strong downside divergence on MACD. The indicator shows prices should be at level $71.70
This was a recent post from a great trader and longtime colleague Jay Kaeppel Sometimes it’s good to go back to the basics. So here goes. Trading success comes from a “reality based” approach. It is NOT about “all the money I am going to make!” It IS about “formulating a plan” (see the questions below) AND “doing the right thing over and over and over again”...
This is a good upside divergence on MACD the double bottom pattern isn't hugely tidy but MACD seems to indicate price should be in $23 + range. OTM options May 17, 2019 23 calls are .25 - .40 the Further OTM calls have no volume action so steering clear.
Ran the reports last night we are in day 12 of the down signal on the market. The internals look mixed though, our group score shows 60% still in up trend and 40% in down trend and a look at the internals of our S&P 1500 stocks shows 88% with early up signals from the AI system.
CMG daily has a topping pattern and big downside divergence on MACD. Trying ^45 puts expiring next week.