The market doesn’t even care about $100+ oil or 5% interest rates,
Wait til the Iran nuisance ends….. oil will go back to $75 a barrel, and we’ll get another month with no down days.

Down markets have been eliminated.
They are now just dip buying opportunities to new all time highs.
How can the market go down when the top 10 stocks have revenue and earnings gains of 50% every year ?

Thanks! I came to the same conclusion and sold my shares for a small loss after it broke below 290.

I don’t have a strong opinion on the near-term direction of EIX, although the stock trades very well to my style of charting. It recently put in a divergent high & corrected from there back down to dual support (uptrend line & a price resistance zone).

As such, one could make a case to go long with stops somewhat below the recent lows (bottom of that confluence of support), as the stock might want to make another run at the resistance zone it just failed at when it put in that DH but I’d sorta leaning towards it breaking the support that it just bounced off of sooner than later & heading down to the 200-day MAs & that lower-most uptrend line below. Either way, here’s my daily chart with levels.

While I like HSY & will probably take it long as soon as next week (if it is still in that buy zone), I can’t say the same about MCD, even though I’m favoring beaten-down blue chip stocks for my long equity trades at this time.

MCD recent sell signal on breakdown & backtest of the uptrend line & 200-day MA’s following the big divergent high & looks to be headed much lower in the coming months IMO, counter-trend rallies along the way notwithstanding.

HSY offers an objective long entry here at the top of this support zone & intersecting uptrend line with stops somewhat below it, ideally on a daily or weekly closing basis to avoid a stop-raid (yellow circle is the buy zone). See yellow arrows above on price to see what has happened to HSY each & every time it fell to the 30 “oversold” level on the daily RSI. Minimum target would be a bounce back to the intersecting 190ish price, 200-day MA, & downtrend line resistance levels.