2 Charts For August

If we're above 172, we want to be long $JNJ with a target up near 211.

The risk here is very well defined. If we're not breaking out from this base, then we do not want to own it. It's that simple.

When it's going, you'll know. If we're not out of this base, then be patient with it.

But the risk vs reward here is very much skewed in favor of the bulls, IF we're above 172.

The next one Emerging Markets and Regional Banks losing their 2018 highs:

This is a big one. If you want one chart to watch as we head in to August, this is it.

They need to get back above those 2018 highs asap, or else.

There's a lot of downside if they can't recover.

A kick save - and a beauty, if you will, is what's necessary here for Regional Banks and Emerging Markets.

Let's see if we get it.

JC

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