GE announced an earnings miss and the stock opened sharply lower. It reversed higher for the day and put in what appears to be a selling climax. The Technometer is overbought at today’s close, so we expect a test of the selling climax, and then we will cover our short position from the $28.91 level from June.
TLT continues to trade poorly and we think there is more downside.
Wyckoff Wave is holding at the recent highs and the Technometer is overbought. We expect more backing/filling.
The Wyckoff Wave Growth Index had a selloff late in the week, and looks poised to make further downside this week.
Wingstop has failed to rally strongly from what we felt was a backup to the creek. Not the type of action we was expecting. We will still allow it time to dig in, and we have a close stop in place.
Overstock did not have much of a correction that we wanted to buy, and continues to push higher. We want to own this stock longer term and will continue to monitor for an entry.
Twilio had a good day Friday. We will watch this closely next few days but will probably be purchasing it. We expect this to be a good stock moving forward.