WMT Close

 We were looking for a Dark Cloud Cover Candle on the close or even better a bearish Engulfing Candle, we got the Engulfing candle. As a matter of fact, it engulfed nearly 3 days, just missing Wednesday by $.04 and on increasing volume.

 As for the Trend Channel break, it was just by a bit, but it broke the trend channel which is now starting to turn down.

Take a look at the hourly 3C since the head fake candle at the yellow arrow as well as Stochastics which were embedded until today.

We see a similar chart on the 30 min as well

In fact, a quick look at the options chain seems to indicate why WMT has been held above $60, although the next strike at $57.50 would have been a bit more ideal, options aren't the only consideration. If I had more time to watch WMT carefully, I may have entered a short position right near the close. There's always Monday...