S&P500 To Drop To The 50% Retracement ?

Although the market (NYSE:SPX) recovered before the close, equities clearly look like they want to go lower. Remember we must break below the May lows in order to complete a proper intermediate low. I’m looking for a retracement at least down to the 50% level ( around the $2,270 level) due to the big up-move we have had since the elections.

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Walmart Acts As A Flight To Safety Again

Well the market (NYSE:SPX) lost 20 handles today but one of our picks – Walmart (NYSE:WMT) actually finished up on the day. Even though a steep correction is on the cards in the spiders, our picks because of their strong competitive advantages should not fall as much. Furthermore the valuations of our picks are much cheaper than the market on average so if they do go underwater temporarily, the draw-down should be short and sweet. If we get the 200+ handle move down over the next few weeks, ignore all the noise that will definitely come from the financial media circles. This will be just a natural correction that is overdue. The commitment of traders recent report illustrates to me that this bull run has plenty more legs in it.

 

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S&P500 Desperately Needs A Correction

 

Source : Sentimentrader.com

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Costco Is Hated At Present

Implied volatility has spiked and sentiment is really on the floor in Costco (NYSE:COST). Too much fear from the recent Amazon (NASDAQ:AMZN) deal has adversely affected retail stocks. Can Costco bounce back from these lows ?

 

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Target – An Attractive Long Term Play

Fear is always overstated. Just look at the fundamentals of Target (NYSE:TGT) over the past decade and you can see the company has consistently increased its earnings and its revenues. This turbulence soon shall pass..

 

 

 

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Spiders Look To Have Least Printed A Daily Cycle Top

 

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NVIDIA Could Easily Double From These Levels

Source : Sentimentrader.com

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Amazon’s Whole Foods Acquisition Sinks Retail Stocks

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S&P500 To Drop Below $2,350 ?

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Walmart Is Doing All The Right Things

 

Source : Sentimentrader.com

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