The Shakedown 6/17/18

As the quarter starts to wind down and summer trading begins to rear its head, I would highly doubt we see fireworks in the market in the next couple weeks. Summer trading can usually be characterized with low volume across the board as traders hit the Hamptons. I'll be light and selective the next few weeks as Q2 winds down, knowing the best trades of my quarter are likely behind me (& awaiting Q2 earnings in a few weeks). That being said there are still some good charts out there.

WM Long

WM has created a nice inflection point in this $84.50 area with some strong consolidation in the past few weeks. I don't like that the stock closed right near the level Friday, so if it goes Monday morning at 9:30 I will only buy 1/2 position in the likelihood it will need some room. 

Trigger: $84.50

Stop: $82.89

Target: $88-90+