We've Only Just Begun

I am strolling through the charts and seeing areas of the market that haven't even completed tops yet. It took 5 minutes of looking at charts to find these, this is the top of my giant pile of charts. And by top, I don't mean the best, though some are great. I mean I made it through only a sliver of all my watchlists and had enough charts for a short video.

3M Was Better, But Short Honeywell Again

On February 11: Short Honeywell

3M's chart is weaker, but Honeywell has been underperforming. Both are correlated though, and both are in the Dow. The market is pricing MMM options as if it is the more volatile stock though. Looks like a potential winner if you're looking for a downside move in the indexes.

I closed out the trade the same day because the market tanked and I had a 100-percent profit amid fake Russian invasion news.

Today, 3M gapped lower. Honeywell looks like it is perched above the abyss. I'm buying puts on Honeywell again.

Short Honeywell

Update: I closed this trade. Made better than 100 percent thanks to the Biden admin screaming, "RUSSIA! RUSSIA! RUSSIA!" There's nothing changed about it, but I 3M's chart is weaker, but Honeywell has been underperforming. Both are correlated though, and both are in the Dow. The market is pricing MMM options as if it is the more volatile stock though. Looks like a potential winner if you're looking for a downside move in the indexes.

3M Gap Fill

Not a great pattern, but interesting if there's more generalized selling coming because puts aren't expensive.