Looking at the charts of Icahn Enterprises tells me exactly what to do here.
These recently downgraded names are displaying both quantitative and technical deterioration.
Here's when we might see a rally in the stock.
Dip buyers keep squeezing shorts and are preventing downside momentum from building, though that situation could change.
What the majority believes will happen and what the market is capable of pricing in are two different things.
While I'm not interested in chasing entries, I see strong support in some of small-cap value plays.
While QQQ bulls may be frustrated, they still get the benefit of the doubt. The SPY and IWM are another story.
These recently downgraded names are displaying both quantitative and technical deterioration.
Here's what traders should do now.
These recently downgraded names are displaying both quantitative and technical deterioration.