Carter discusses the current short-term trend. John notes two closes below the 20-period average on the daily chart as a red flag and a potential signal to short rallies. Multi-time frame analysis suggests conflicting signals and John’s takeaway is to avoid chasing moves. Short-term he sees a potential squeeze in the works and analyzes a few names for potential options trades including MMM, CHRW, TSLA and PCLN to the long side as they have shown strength in a weak tape. Carter does warn about chasing in the short-term and identify pockets of strength for longer-term trades.
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