$WMT Bearish FOMC Setup 1/6/2022

6 Oca 2022

WMT had a parabolic run up on 1/4/2022 with little to no consolidation. Elevator up means elevator down. It is also about to break back into the triangle trend it was forming. Also Dec 16-17 WMT fell almost $8 and can also be considered a gap fill for WMT coming back into trend, as shown by the green boxes. This play is puts under 143.60 (risky) or 143.00 (safe) for confirmation of downtrend break. Sell would be when WMT touches support lines with only runners after that. SPY confirmation is encouraged but not necessary because WMT tends to move on its own.