Short Term Trading Member Forum

[techcharter]

Retail Sector E-waves

WMT - Wallymart is leading the retail sector into a bear market. It topped in January 2015 and has shed more than 15%. From the lows in mid April to the highs in May, WMT has failed to rally above the 200 DMA. This failed test has given way to a quick resumption of selling. The chart looks like a waterfall of waves 1-2 of multiple degrees. Look out below cause a whole bunch of wave 3-3-3 are about to show WMT what a real price rollback looks like.

http://stockcharts.com/h-sc/ui?s=WMT&p=D&yr=1&mn=0&dy=0&id=p96336389075




EBAY has very little momentum left. Since October 2014 EBAY has been in an ending diagonal. There may be one or two days left before EBAY completes wave 5 of Wave 5 ending diagonal.

http://stockcharts.com/h-sc/ui?s=EBAY&p=D&yr=1&mn=0&dy=0&id=p56192933195


AMZN - amazingly still has not topped. But that's about to change in the coming days, couple of weeks. Since January 2014 AMZN formed a Wave 4 triangle that ended in January 2015. Over the last 5 months Wave 5 has progressed to wave 4 triangle. So in the next 2-3 weeks AMZN will finish wave 5 of Wave 5, and join the rest of the retail sector in the bear market.

http://stockcharts.com/h-sc/ui?s=AMZN&p=D&yr=1&mn=6&dy=0&id=p66025535987


TGT - may or may not have topped. My favored count is bullish. TGT pushed wide of the latest pullback channels, and is testing the underside of the 50 DMA. The rally off the February 2014 low looks like 4 out of 5 waves have finished, with wave 5 of Wave 5 to complete over the next 2-3 weeks.

http://stockcharts.com/h-sc/ui?s=TGT&p=D&yr=1&mn=8&dy=0&id=p40457978884