JNJ is now close to the stop level. It does not look that weak, but the general market is weak due to what looks like to be a reversal of Nirp refugees MF. JNJ is one of these "stable" companies offering stable dividends. Something similar to a utility and we know how utilities have weakened in past days.
I want to keep some flexibility around JNJ, because the stats calculated over the weekend still showed to buy market weakness, but if we have weakness today, JNJ will be pushed down with the rest of the market. I believe that the Cumulative Tick will tell us when to buy this market.
The trade ideas for today are below. There is no "emergency" to trade this market here.