For those not familiar with this scan there’s a whole page devoted to it as well as a watchlist with some potential trades. The premise is that the 200 moving average acts as a wall and it’s rejected on an attempt to cross it. Accelerating volume to the downside is a big plus. I’m seeing some energy names here which is a bonus for my USO short.
Some other plays are: BAX BDX EQ SLH WR XEL
This scan showed some real promise when I went back and looked at how these charts fared a month or two after I posted them. They’re still there for anybody to go back and do some due diligence. This scan works best when the markets are about to roll over and it feels like we’re in that mode.
