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$HD – At an Area of Interest –


HD has a collection of bearish messages on the daily tf. The ones that stand out to me the most are the gravestone doji that was bearishly engulfed by the next candle. IMO – that’s a message.

Above is the weekly candle perspective with the EW count. The yellow (C), around $180, is the target – timing of late June 2024. So far, the weekly candle is a bearish continuation candle – I don’t foresee this changing by tomorrow’s close.

If the area of interest highlighted below can be visited, then there will be a set up to go short. Stop at recent highs of $338

In the Discord today, it was alerted to nibble at puts once PA reached that white (a), as this could have been all the retracement HD was willing to put in before exploring lower prices.

If one were interested in puts, then 21 June with a strike of $260 offers a decent play, IMO.

Long-term EW count is above. I will note that if this is indeed a Super-Cycle Wave Two (SCW2) for HD, then this SCW2 should be long in duration, suggesting this corrective yellow (ABC) is actually only the A wave of a much larger corrective cycle that will not end until the end of this decade or in early 2030s.


Trading involves risks, and you are responsible for your own actions. The above is for entertainment purposes only, and does not constitute a recommendation for this instrument or any other alike instruments.

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