One Last Bear Rampage to End 2022: Stapled Consumers

Today's Losers

More familiar names. These all fell at least 3 percent on high volume. I shrank the list with daily volume and market capitalization limits. A ABNB ACIW ADSK AER AMCR ANSS APTV ATI AVNT BALL BILL BL BLCO BR BRKR CBRE CDAY CE CF CFLT CGNX CHRW CLX CROX CRWD CTLT CWH CWK DDOG DLO DNB DOCN DT DV DVN ECL EL ELF ENTG ESI ET ETSY EW EWBC EYE FIVN FND FROG FRSH FTNT GDDY GH GLBE GOLD GPN GSAT GT HL HOOD HRB HUBS IDXX IOT JOBY JXN KSS LEA LNC LNTH LTHM LUMN MKSI NCNO NEM NLOK OI PARA QCOM ROK ROKU RPD RUM SOFI SSNC TEAM TEL TNDM TPX TRMB TWLO TXG VEEV VRSK XRAY Z ZBH ZI ZIM ZS

Widows and Orphan Stocks Highlight Market Risk

Clorox makes a variety of household brands. Sales are steady, profits are steady. The stock has been in a general uptrend going back to the 1980s. It overshot to the upside in the 2000s bubble and came down. It overshot again in 2020. In both cases, the stock had already cratered when the bear market started. An investor who bought Clorox at the end of March 2000 would only see a small, brief loss in the bear market. I suspect this time will be different, depending on if the forming inverse H&S pattern completes or if it fails and signals a larger top is underway. The takeaway right now isn't to buy Clorox, but that we have yet another sign that a major bear market is underway.

ZH: Clorox Slashes Profit Outlook, Signals Further Price-Hikes Through Summer
 

Bulls Drink Bleach

Clorox gapped through the support line between the 1987 and 2009 lows. I don't think there's any support. I could be wrong, but I suspect there isn't some dead body about to drop from Clorox. Instead, I see this as a flashing light screaming that no stock is safe.