Repeating Pattern

The last update on 3M, was here.

From that point, price action declined as expected, then pushed below support, getting itself into ‘spring’ condition.

From there it rallied, posting highs above previous highs and created an ‘up-thrust’.

So, now we have ‘spring-to up-thrust’, link here.

3M, MMM, Daily

The prior short trade, MMM-26-01, was closed out on January 27th, with a slight positive, break-even.

The stop for the current short, MMM-26-02, is (or will be), the session high (not advice, not a recommendation).

Other Markets

Separately, short trade SAIA-26-01, was closed out with 2.17%, profit.

The expectation was for a lower open and immediate continuation lower (not advice, not a recommendation).

Stay Tuned

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Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279