Down-Trendline

We’re either still in the trading channel (at left) or we’re not.

Tomorrow’s action may continue lower, verifying the trend, or break to the upside (not advice, not a recommendation).

For positioning short, it’s relatively straightforward.

Short trade PGR-26-02, entered at 207.22, with a stop above yesterday’s session high at 209.72, yielding a ‘risk’ of 2.50-pts.

Let’s see what happens next.

Stay Tuned

Charts by StockCharts, TC2000

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