Recently I have written about my favorite A set up for this market.  I will discuss this in more detail Thursday during our webinar with SFO.  We had another yesterday in CTSH.  Let’s draw it up for you to give you another rep at an A set up that has been working in this market.

The elements:

1. Fresh News: CTSH reported.

2. The Open had ended.
3. There was a clear path on our long term technicals.

4. CTSH started to trend intraday below 65.20.

5. The tape confirmed our short with 65.20 holding the offer below our intraday breakdown price.

The cover?
Above 62.50 when CTSH broke the intraday downtrend.

Mike Bellafiore
Author, One Good Trade