Costco Stock Signal 11/09: Fresh Sell-Off Brewing (chart)
Short Trade Idea
Enter your short position between $953.96 (yesterday’s intra-day low) and $969.07 (the lower band of its horizontal resistance zone).
Market Index Analysis
- Costco Wholesale Corporation (COST) is a member of the NASDAQ 100, the S&P 100, and the S&P 500.
- All three indices are near all-time highs with bearish breakdown patterns emerging.
- The Bull Bear Power Indicator for the S&P 500 shows a negative divergence and does not confirm the uptrend.
Market Sentiment Analysis
Yesterday’s PPI report showed an unexpected contraction in producer prices for August, but investors will focus on today’s CPI release. Equity markets brushed off the better-than-expected reading yesterday, but Oracle stole the…
