Nothing But Tears (Coming for JNJ)

There are many extremely interesting charts right now. We've are in the midst of one of the longest winning streaks (base don various metrics) in decades for US stocks and this has lead to some really nice formations.  Over the next few days I'm going to post some breathtaking charts. I think we are really close to a major turning point (based on bonds, yen, topping patterns, etc) but will we crash up in a capitulative top or has it happened already? Regardless, I am convinced the price action will be fascinating. I am going to update the blog later this week (long overdue), but first, enjoy some sweet charts. JNJ is one that has many people puzzled, the stock had been soaring until the recent correction which looks very healthy by most standards. If it weren't for the fact that we aren't having a baby boom right now, if the steep uptrend hadn't broken, if that beautiful inverted hammer candle hadnt formed at a new all time high, and if the CCI and stochastics weren't flashing bearish signals, I might be bullish on this 50 dma bounce. Instead, I'd look to get puts when the stock reaches the 87.50-88 area. I have no position currently. To quote the words of our former dear leader, "this sucker might go down".