But they are both making you money today!

jog on
duc

Val made one good moementum high, then pulled back to attract buyes, and is now moving to it’s secondary top… After which you should get a correction.

Algn made it’s top, pulled back and made a series of slightly higher highs Definate toppy action… But that stuff is all the MOMO thse days, and it still could get some action behind it.

The MOMO guys right now are trading Healthcare and staples. That is where they think it’s safe. So, it is getting toppy, but don’t doubt their ability to push things up again.

Wait till val hits 23.50 to short it. Both of them are definatly hitting resistance and could have decent pullbacks..

but you have a red candle out of algn, and a green candle in VAL…… But for a short term trade, Val will probably run out of short term momentum, then move through.

You and I have been talking about trend lines, If you run a line from the july lows to the september lows, and wait for them to “Break” That trend…. I said “Break” and not “Test”. That is how I would short it…. In fact I may put them on my list. Then look for them to do a respecive 50% pull backs.

When you do your risk reward, you end up with a solid 3 dollar move, instead of the $1.50 you are getting Playing with fire.

As they back and fill for the next few days, you can draw a second trend from the september low, to the Back and fill stages(but not “TODAY”, then wait for it to break that trend line, and you can catch another buck or so.

I give ALGN 50/50 bearish bullish. But it could just get some nervous short covering for the sake of our current market environment.

You have drawn a channel that is rising. That’s bullish point #1

Bullish point #2 is that the previous “Resistance” would currently be seen as acting as Support [notice all the long tails]

Bullish point #3 is that it has moved above the 200 and has a rising 50 that has also crossed the 200

All-in-all it also looks rather bullish, possibly not as explosive as the other chart, but, I’d not want to be short on this one.

In your favour however, technicals are 50/50 so you have even money

jog on
duc

Well, then I may still have a safe out when it ends the third spike of the “crown” a bit to the downside.

What about VAL, why is it bullish?

If the WSJ is correct and “shorts” wern’t the sellers, then that represents, within the financials, some form of capitulation.

ALGN looks like a triple top….which is technically, very bullish. If it breaks out. then it could be an explosive move.

jog on
duc

Did you read your WSJ today? There was that bit about how maximum amount of shorts for the financials was in July and some other month, but not in the past 2 weeks, when they were waterfalling.