Stock Related Necessities Trading Into Order Flow?
Pete Renzulli shows in detail some of the Consumers Stocks, Healthcare Stocks and Basic Materials Stocks that are possibly showing some Order Flow off eight weeks of what shows as a down trend.

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Okay. Moving on over to a different sector. We're gonna look at consumer def defect, defensive stocks, they mostly remain bearish, right? Which is surprising with inflation. Consumer defensive stocks are like Pepsi, Coke Colgate, like all those kinds. Proctor and Gamble. Johnson and Johnson. You would think that with everything's so sky high right now, the things that we need all day and that kind of stuff you point out over here is General Mills pretty nice, move off the lows and has now held that.

For full moving average. So we actually have a two this four day pause. Remember what we just talked about? ER mills held the bid after that move. It did not pull all the way back. It did not. Again, we just talked about healthcare, right? Healthcare melted lower for eight weeks. So I just wanna give you an example of what that looks like.

So if we take a look at the healthcare ET t F, you could see this move to the downside and actually this breakdown. So very obvious right now that we could say that healthcare is showing relative weakness, right? There was a period over here where it looked like it was gonna break this down trend. It didn't.

It actually held it and pushed to the downside again. But again, this is doing the night, the nightly homework, going to do your treasure hunt every night. Me. M r k in that group is actually showing relative weak relative strength. So you just saw what the larger healthcare group is doing, and you could see Merck over here actually showing relative strength.

Now what's interesting is this giant bullish engulfing candlestick followed by another breakout with good volume. It's got a little bit of room up to that one 16 level, but if we break this down a little bit more and look at profit potential and zoom this thing out, you can actually see that Merck is not that far from all time highs, and last month actually traded into a giant, excuse me, this month traded into a giant reversal pattern.

Coming off over here. So these little kinds of clues, especially if you kinda drop some volume in there, you can actually see above average volume on this giant reversal and this level over here around one, it's gotta get back and stay above one 10. That's basically the level that I'm keeping an eye on right now.

Okay. Basic materials gives us a chart similar to Mark. M o s, which you can see here showing some good relative strength compared to the rest of the group. So again, we could take a look at the basic material group, and you could see they have mostly been bearish. But again, this is where we learned to stack the order flow.

Stacking the order flow isn't recognizing it. Again, I'll show you how to do that, recognizing it from one day to the next, one week to the next, one month to the next. So nothing outstanding here, right? But wait a minute. That's interest. Look at the volume. So now you'll be like, great basic materials, actually did something with big volume on Monday.

Is there anything in basic materials that might make me sit up in my seat and pay attention? I'm gonna show you two different versions of two trades that meet that criteria. . The first one is mosaic. Mosaic actually rallied and actually is sitting at an optimal entry last week. So the market took off to the downside last week, mosaic actually rallied.

You could see there's some massive resistance over here in the 55 area. So it's actually a two-step trade, one step, one trade up to 55, and then considering to add over that,

A downtrend in financial markets refers to a period of time where the overall price trend of an asset is moving lower.

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