1. WBA
As can be seen above, the price action of WBA suggests that it should start moving towards the upper range of the parallel channel at some point.
2. UVXY – analysed.
3. QQQ – analysed.
4. RUTS – analysed.
5. SPY– analysed.
6. BTC– analysed.
7. WOLF – analysed.
8. BIDU – analysed.
9. NATGAS – analysed.
10. US10Y – analysed.
11. XAUUSD – analysed.
12. GFI – analysed.
13. DJI – analysed.
14. UAL – analysed.
15. JETS – analysed.
Learning Points
- Watched a video about the financial affairs of WBA, and it looks absolutely horrible. They appear to be in a lot of trouble, which has caused them to be acquired by a private equity firm.
As a result, it is to be expected that the private equity firm will slash and burn everything that is draining the company’s profits in order to turn it around in 3 to 7 years, and exit with a substantial profit.
Hold on, therefore, to your current WBA long position.
Let’s see how this plays out.
. - The more experienced traders (that I follow) seem to be failing to see what I can see in the markets at the moment.
I see that there is a good possibility that the markets, in general, will move sideways then upwards, as oppose to coming to a holt, then resuming their decline.
Let’s see how this all continues to play out as I’m really curious whether I am missing something fundamental in my analysis.
Next Actions
- Look into what is happening with WBA as soon as possible.
- Continue to assess the broader markets today on their 1 hour timeframes.
