PCLN

PCLN looks interesting for a number of reasons, first of all if we were below $1000, I'd say $1000 and above is a huge psychological magnet and I'd expect to see some real distribution above that level. PCLN $1000 is sort of like Dow $10,000 if anyone can remember back that far, it was just such a magnetic level you knew once we were within 800 points or so, we were going there and we crossed in to the $11,500 territory before coming back down.

Part of the reason PCLN is interesting is because we see what I'd expect to see at $1000+, the other part is because PCLN is a trade that can come to you rather than you chasing after it.

 This 60 min chart shows the 3C trend with price, what's interesting is how well the uptrend had good 3C confirmation. I can pick out small divergences here and there that created pullbacks and new legs up, but the trend is what is the centerpiece here, I hope I didn't draw too much over 3C to the right, but you can clearly see 3C fall off right above $1000 as I'd expect (yellow trendline) and there's more work to do here, but that's fine because the same goes for the price pattern, I think ultimately PCLN will take out $1100 (orange) before it's ready, but that's an alert I'd be setting today, I already have.

 The 30 min chart has more detail and the distribution above $1000 is obvious, it's such a magnetic level. In fact the initial selling above $1,000 sent PCLN back under $1000 briefly, You can see a triangle taking shape, I doubt this is the final price pattern, but I think it is part of it.

Here's the 125 min chart with the dip under $1k and continued distribution above and as we make our way higher. $1100 being a centennial number will act as a magnetic area as well, I'd guess there's a very good chance for a head fake move >$1100 so that is an area I'd set a price alert for.

This is the first solid change in trend on a 60 min chart that really stands out so I don't think we are too far away from an excellent entry (short), the higher the better for profits and for risk as the stop can be a lot tighter.