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The indexes started showing strong selling this week, the Dow formed a bearish shooting star signal that was confirmed in Friday’s trading. The next confirmation will be to see if the T line is able to act as continued support. Lower trading on Monday would indicate the selling has started. These short sectors are currently auto dealerships, ABG, CPRT, SAH, LAD, PAG and retail stocks CATO, LE,TITN, TLYS. The electric vehicle sector is showing some good potential trade setups, ROOT, BLNK, QS,m XPEV, LI, CBAT. The gold sector is starting to show bottoming action. These market conditions are starting to warrant adding more short positions to the portfolio if the T line does not hold on the Dow.
