A PART OF NY A Macro View on the minutiae

Today was a bit wacky.  Lots of head fakes and so I am not sure if any chart pattern carries any credulity within the Fed/GS spurred HFT Flash algorithms.  Saying all that WMT broke out of a long term triangle (see below).  I’ll wait till I see 2 days close before buying in, however I am getting ready to go long a stock.

WMT - buy?

If you own WMT you are probably saying, to yourself, where is the rally.  Since March WMT has done squat.  As it is a very good quality company this, of course, makes me very suspicious of the current rally (best performing stocks are trash).  I did a quick analysis and poor WMT is stuck in a triangle and cannot seem to get out:

Stuck in a triangle is no fun

Once WMT manages to escape it is either upto the 60’s or down to 42.  I’ll continue to watch from the sidelines until it makes a break…