The fleeting head-fake on the opening refreshed the bull trend by exceeding January 5’s external peak at 36.78. The implication is that the pullback that has ensued could provide us with a low-risk buying opportunity. However, the 35.68 midpoint support of the corrective pattern will not be particularly useful for such purposes, since it coincides with the low of yesterday’s selloff. Instead, let’s put in a stink bid for 800 shares at 35.10, three cents above the ‘d’ target associated with the midpoint. A 34.93 stop-loss is advised.
