WALMART INC stock discussion
SPY 
LLY 
WMT 
META SPY weekly SMA showing weakness implying a reversal. Was hoping for more upside on SPY on Friday, but markets are nearly out of gas. WMT, LLY, and META hit their upside targets, so have puts that have printed nicely so far. I think we are down for the next few weeks. VIX weekly SMA is also reversing to the upside revealing more risk for broader market downside
WMT triple bearish divergence on 3h worked out as expected, week low at 77,49 precisely in line with target price at 77,50.Support line of recent upward trend now broken and back tested at Friday - so expect
WMT to move to 76,50 coming week. Bought set of P 76.00 27.09 at 0,09 to anticipate on this downward continuation - rather speculative, given short time frame (1wk), but worth at try with profit from this week's divergence trade.WMT triple divergence on 3h, aiming for correction to USD 77,50 latest 20.09
SPY Fibonaccivix I buy steep drop last week of Sep, but maybe not next week. Dovish Jerome / Jackson hole are on deck next week, and it’s week after opex rebalancing. WMT was a bear catalyst that proved to be bullish and there’s pumped liquidity. Funny enough the 5AUG drop was mostly retail driven as “recession” seemed to seep into everyone’s mind at an increased rate. Institutions were buying at discount the whole time. I wasn’t able to abstract out either in that moment, but this is how the game is played on everyone and at all times. When in company, protect your tongue, when alone, protect your mind. If you want a glimpse on how this works at a macro scale through a micro presentation, just Google “mentalist hard knocks”. And watch some athletes be blown away by the ideas planted in their head in real time.
Swinging is dumb; volatility can be accessed at any price point, Price action over everything. These are not unique times or opportunities by any stretch of the imagination, but I would bet on more sunshine next week.
I also don’t think that last week of Aug is going to bring us to the 500s lows being whispered on this board. I see the rate cut itself as a lose-lose straight sell the news outcome. 25 bps will be digested as not enough, 50 bps will be digested as reactive to fears of recession, I’m thinking steep sell of into end of Sep.
Good study: meederinvestment.com/insights/052423—rate-cuts-may-not-be-so-bullish-for-stocks
SPY I'm out of my 10 comments for the day. SPYTraderJ to answer your question - wave 3 is the largest of the 3 waves (typically). In this case, a big drop down. Also, WMT appears to be on the precipice of starting wave 3. Could earnings be the catalyst?
WMT 69.4 Im Targeting