Trader’s Narrative

When a stock swims upstream, and does so in the face of a market meltdown… you can’t help but to take notice. Especially when it is one as well known as Sears Holdings:

As you can see, price gapped up in pre-market; but even before today’s action, if you look on a daily chart you’ll notice how price was holding its own during the recent heavy market selloff. This morning’s gap up was an expansion phase (green arrow). In the pre-market session there was contraction as price coiled tightly (red oval). Then right after the opening bell price expanded higher again.

You can see there were a few more expansion and contraction phases until the intra-day trend was broken and price finished weak for the day.