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Mptrader Out Front: Tuesday May 18th, 2021 Home Depot (HD) released earnings this AM, and Beat-the-Street on most of the important metrics, which has goosed the stock to the 327.25area (+2.3%)from Monday's close at 320.01. In that HD is a bellwether for retailing, homebuilding, home improvement, and the overall health of the consumer and the economy, it behooves investors to pay attention to thebehavior and trajectory of the stock. My attached 4 Hour Chart shows that heading into this AM's earnings report, HD was trading near the lows of a week-long, near 9% correction off of its ATH of 345.69 (5/10/21).
Below is a series of daily charts we provided members on the USDCAD since April 29, indicating the forex pair would decline to complete its 5th wave down in circle wave C, which it went on to do.Last month (on May 13) we indicated an upside reversal was right around the corner, and the final chart (from today) indeed shows this rally has begun (and could very well continue after a pullback I am anticipating).
E-mini SP 500 Futures: Keep It Simple Stupid –Weak Seasonality, See If Bears Can Sustain Part 2Copying and pasting a section from our ES trade alert room’s premarket gameplan report. FYI, the ES trade room provides real-time entries and exits with pre-determined stoploss and target levels alongside with real-time lessons on strategy/risk management/psychology/momentum. We specialize in quick intraday alpha setups and short-term swings with duration of 2-5 days and occasional 10-15 sessions holding period (some key levels + strategies have been redacted for fairness to subscribers)Yesterday closed at 4215.
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