Here’s Why It Pays To Be Flexible
If at first you don’t succeed,
maybe try, try, try ‘the other side.’ If a quality pattern on the intraday time frame fails to
measure up to expectations, with daily chart supports backing it up,
the stock is quite possibly telling you something about a potential ‘underlying
problem.’
12:40:06
Intraday Setup Alert
Caterpillar (CAT)
is forming an ‘intraday’ Trapdoor pattern–down .93 at 78.77. This action
has session lows testing prior daily chart pivots and both the 50-day sma and
89-day ema.
14:00:22
Intraday Update Alert
Caterpillar (CAT)
has formed a low level
Slim Jim after failing to move higher out of an intraday Trapdoor pattern.
Session lows have the issue testing key daily supports between 78.42 – 78.61.
With the stock demonstrating intraday weakness thus far, potential shorts might
be considered if technical supports break.
We’ll see what happens next, but in this
environment one thing’s for sure–it pays to stay flexible.