We got ourselves a pretty nice sell-off into the close that took us from green-to-red on the day. Being how overbought we are when this occurred, coupled with the light volume, I think there is a better than average chance we continue this mini-sell-off into tomorrow as well.
So with that, here's 6 short setups that you can put on your radar for tomorrow as we head into its open.
McDonalds, surprisingly, is on the list - The chart just continues to breakdown when you think it has to break higher at some point. But at this point the chart is decisively bearish. The other one is Fed Ex (FDX) which is putting in a lower-low and may be prime for a move to $82.
Here's the rest of the big name shorts:
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>
Sign up and receive Ryan's stock picks, watch-lists and eBook
SharePlanner provides swing trading, day trading, options income, and speculative strategies for traders. You will find a wide array of material to help develop and hone your trading skills and abilities, from videos and courses to learning about specific trading strategies. As always, SharePlanner will provide the best actionable trade ideas for "right now" as well as all of the research and technical analysis that you need to make you a better and more profitable trader.