Got in this morning and found a couple of charts that I missed in last night’s post.
$SKUL was previously stuck in a massive descending triangle before that massive quick drop. The target it generated when it broke that pivotal support was around $7.85, which is where the stock is trading around. Short interest in this name is eye-popping and I’m thinking because it’s so oversold and hated, it can trade back up to $9 by mid to late December.
The $F chart is very simple, follow the rising support until it doesn’t work anymore.
Another easy chart, $CVX confirms major rising support and bounces.
$UUP is getting destroyed this morning and heading back to support. If it breaks that $21.95 support level then I’m pretty confidant we get a Santa Claus rally.
Questions? Comments? Leave me a reply.
