BIDU Update

I was just thinking, it would be an interesting set up to bounce Thursday, have a bad NFP print on Friday when the market is closed and Monday... That's just a passing thought, we'll see what today's EOD trade looks like.

As for BIDU,

 BIDU is in a similar set up as AMZN, even the long term Money Stream charts are similar. We have a almost certain head fake breakout of a large triangle (topping formation) which has already seen a confirmed reversal.

AMZN, except AMZN has broken support, but you know the short term situation from the AMZN update.

 BIDU has one small gap, whether it gets filled or not I don't think is very important, but it would be an area I would certainly look at shorting BIDU with longer dated Puts.

 The 1 min chart in BIDU showed a positive divergence, but it is lagging currently.

 The 2 min chart showed an intraday positive divergence, it too is lagging


 A close up of the 15 min chart shows a relative positive divergence (weaker of the divergences).

 However zoomed out, the 15 min chart's trend is very ugly and overall leading negative, especially as BIDU broke out, suggesting that the breakout of a obvious triangle was bought by retail and sold by the locals.

 The 60 min chart has also seen damage since the breakout and is leading negative-this is a long timeframe for a leading negative divergence.

Also similar to AMZN is the daily Money Stream Chart, it confirmed the move up, went negative in to the triangle and leading negative since.

I like BIDU as a short trade, I'd like to short it in to strength so if it can move toward the gap, I'd be interested. Or on a break of the of the $144 area, the first break probably wouldn't be my first choice, but that depends on what the market is doing at the time.