EOM Market Recap 6.7.16 “Trading Tuesday” TIF

Good Evening,
 
Today’s rally looked Bullish until the last hour when the selling hit-data from Stockcharts.com. 
 
Per my Front and Center Chart I, the SPX could not run past 2119 and closed one point above R-resistance.
 
On Saturday, I posted a “Fun Quiz,” to see who could determine our “Trading Tuesday,” candidate.
 
My goal…to have some fun and stimulate “thinking.”  The clue was the song “Moon River,” from the movie
 
Today I feature TIF-their profile from Yahoo Finance. 
 
Why?
1.  Institutions hit TIF hard on the short side after market tops
2.  TIF dropped 70% from it’s October 2007 high…during the last SPX tumble
 
Key Points on TIF…
1.  Previous drop are highlighted-red boxes
2.  Is not trading with SPX
3.  Continues its .40 dividend while the price drops
4.  May have a nice short-covering rally if the SPX breaks out
 
When the SPX profit-taking begins, a $hort position could be a profit opportunity.
 
This three-year seasonality chart may give important directional clues. Emoji
 
The rest of the week, we analyze the rest of the momentum stocks and look for long and short
trades.
 
Enjoy your evening!
 
DOE
 

David England has sent you a SharpChart snapshot from StockCharts.com:

a SharpChart snapshot from StockCharts.com

Comments from David England:

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