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Synchrony Financial
Short

SYF: Distribution Completed

By quantitativetendies
Updated
SYF looks to have completed a distribution and is headed to the downside, with yield curve flattening and global growth slowing its easy to see financials lagging too
Trade active
It looks to be going through the typical backing up action (in wyckoff theory) and is staging a bull trap. Good place to build the short with a stop at 45ish.
Note
Surprised at how well this is holding up - most likely this is due to the Russell staying up but the short should remain. We have macd divergence now.
Chart Patterns
quantitativetendies

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