SSI daily Jan 9th
SSI (Stage Stores Inc) is another component of the XRT retail ETF that may soon offer an objective short entry. Back on Aug 21st, SSI made an impulsive breakdown from a Head & Shoulders topping pattern, falling about 16% but reversing well shy of the measured target for the pattern (i.e.- the distance from the top of the head to the neckline subtracted from the level where the prices broke below the pattern). Since then, prices moved higher to recently backtest the neckline (now resistance) from below. The next objective short entry will come on a break below this white uptrend line with a sole profit target at 17.08.