A few good charts

Yes I already sent the E.O.D. writing earlier but times like these warrant deeper dives. And that is exactly what I am doing right now. It’s not just me, traders / investors who devote themselves to becoming students of the markets always take deeper dives after selloffs like today. Not to “understand” them but to prepare for future opportunities. Please, don’t get me wrong, it’s still defense that wins ball games. I’ve always said that.

First and foremost NVDA….. It was only just last week when we here at investingwithfaith.com shared a newsletter titled “Stocks that don’t suck” and we talked about the selloff in NVDA. In that posting we also spoke of the current Support lines with a chart to show them. We stated 115, then 110 and then 100. So far it’s all coming true to life. Again, we don’t have a crystal ball, but the numbers don’t lie…. We are not even considering it at the moment….

Earlier today I mentioned PG and JNJ which we like here. These next 3 are all of charts of interest. First is one that we mentioned here earlier this month, it’s SN, or “Shark Ninja” I need a shark emoji for this one!!! Something to consider is SN has a history of selling off in the month of September. Why show it still? It’s up above it’s box ( resistance ) and holding steady. If one was to take a position using STOPS is a must and be prepared to HONOR THEM…

Next up is JWN, it’s had some “chop” in the past and may not be for everyone. Its above Resistance now and we are watching for a retreat back into the box or a further advance. This one however has beaten the S+P 60% of the time in the month of SEPT over the past 5 years by 3.1% average…… I cannot stress enough the need for strong Volume it would take to move this up…. ONLY then would it be worthy of consideration, until then it’s Watch List only

Finally we have BMA, this sucker is no joke, strong price action for 3 years straight. Like the others its up at Resistance currently as well. Volume needed. One thing worthy of mention is that BMA has beaten the S+P 60% of the time in the past 5 years as well for the month of Sept. But it’s combined average is 5.8%… Not to shabby….

Investors please remain mindful that SEPT is the hardest trading month of the year. These are not “Oh look its still all good”!!!! It’s not, there was a ton of red today and the S+P 500 didn’t even come close to defending the much needed 5,600 area for Support. Not to mention all 3 of these charts are UP AT RESISTANCE. They could all very easily go back down into their boxes, they all need Volume to advance which would be welcomed.

If I have any “saving grace” in life it’s that I don’t ever “Over promise and under deliver” That’s soooo not my thing… Hopefully I have more and not just that one!!! lol…. Due diligence is always something I take very seriously. Futures are already down for tomorrow, but it’s a long way until then, and tomorrow is another day..

Invest wisely, live charitably and be well

Brother Bill