Retail Update
WMT continues to accelerate to the downside in Wave 3-3. The price is in the level of previous Wave 4 triangle. With the 50 DMA heading down and crossing the topping 200 DMA it will be interesting to see if WMT finds support or a huge gap down blows away support.
EBAY ending diagonal looks complete and today's sharp selloff definitely fits post ending diagonal behavior.
AMZN can still be counted as a wave 4 triangle complete, but the Bollinger bands are starting to open with the price pushing trough along the lower band, which is bearish. A 4-5% move either way is coming in the next day or two.
TGT is looking less bullish. The April to May sell off can count as a leading diagonal wave 1. The rally off May's lows is choppy, and can be counted as wave 2. The 50 DMA has topped, and the price has tested this resistance for a week before being repelled. Stochastics made a recent high, but the price did not (divergence). MACD gave a sell signal. I'm changing my view to bearish to better align with the rest of the retailers.
