The charts of the medical device company indicate its shares may have topped out.
Traders would do well to take a wait-and-see approach to the market ahead of the Fed's next meeting.
Also, let's look at the slop underneath the hood
We have reached the point in the calendar where seasonal trends are bearish.
We continue to honor sell signals.
The week after options expiration (this week) is a notorious one for the market. And that's just the half of it. Plus, what GM and UPS stock can tell us about strikes and stocks.
I don't see a bottom in sight when looking at these charts.
Downside risk has increased.
Let's see if traders of this Dow component will become buyers or sellers.
Is there a foundation for a rally?