Nine of forty-four wave setups have already failed their stop
Checking every published support and invalidation level against the last price turns a 44-name screen into a status list: nine setups have already traded through their stop, eight more are below support, and thirteen are still clear.
Levels on a screen are a promise. The market decides whether they hold, and the published table never says which ones it has already taken back.
This is the whole list, forty-four setups from the Stock Waves and metals screens of 16 October, with two comparisons the source does not make: a status against support and invalidation, and the distance to each.
The gap in the screen
The table gives support, invalidation, resistance and target for every name. It gives a recent price too, but leaves the comparison to the reader.
Making that comparison changes the picture. Of the forty priced setups, seventeen are below support: nine have traded past the level that was supposed to void them, and eight sit between support and stop. Four more are within two percent of support.
The nine that have already failed
Ranked by how far past invalidation the last price sat, as a share of that last price.
| Symbol | Side | Last | Invalidation | Past stop |
|---|---|---|---|---|
| REMX | Long | 55.74 | 64.04 | 14.9% |
| HL | Long | 15.56 | 17.50 | 12.5% |
| WRN | Long | 1.83 | 2.01 | 9.8% |
| MUX | Long | 16.21 | 17.70 | 9.2% |
| GDXJ | Long | 109.61 | 117.40 | 7.1% |
| UAL | Long | 101.31 | 104.50 | 3.1% |
| BKR | Long | 54.40 | 55.00 | 1.1% |
| MP | Long | 41.61 | 42.00 | 0.9% |
| CIGO | Long | 15.15 | 15.25 | 0.7% |
Four of these are marginal: UAL, BKR, MP and CIGO are each within a few percent of their stop. The other five are not close, and REMX is nowhere near.
All nine are long, and seven of the nine are mining or rare earths. The exceptions are BKR, an oil-services name, and UAL, an airline. That concentration is the story: the metals screen carries most of the damage.
The eight under pressure
Below support, above invalidation. These are the ones that still have a decision in them.
| Symbol | Side | Last | Support | Below support |
|---|---|---|---|---|
| AG | Long | 16.09 | 17.75 | 10.3% |
| SILJ | Long | 25.64 | 27.85 | 8.6% |
| ARM | Long | 244.79 | 260.00 | 6.2% |
| IMPUY | Long | 11.41 | 11.89 | 4.2% |
| RIO | Long | 90.21 | 93.91 | 4.1% |
| SBSW | Long | 9.95 | 10.28 | 3.3% |
| SYM | Long | 39.76 | 40.50 | 1.9% |
| AGI | Long | 31.98 | 32.40 | 1.3% |
ARM is the awkward one. It has fallen 6.2% through support, and still has 8.1% to travel before it reaches its stop at 224.90. The distance left is wider than the distance already covered, which is the opposite of what most of this list looks like.
AG and SILJ are in worse shape. Both are more than eight percent below support with their stops still below them, so the trade that exists on paper is nothing like the trade the price describes.
What is still working
Thirteen names sit clear of support by more than two percent. Another four are inside that band and effectively at their level: DBA, BOOT, TSLA and AMZN.
The shorts are a separate story. FLEX, BE, HROW, AMAT and LRCX all trade below their support with targets well beneath. For those five, breaking support is the trade working rather than failing.
E appears twice, long on a yearly frame and short on a weekly one. The screen is carrying both readings at once.
What this changes
A screen ranks setups by quality at the moment they were published. It cannot tell you what happened afterwards, and twelve of these names are now somewhere the original table did not anticipate.
Four of the forty-four had no price to compare against and cannot be assessed at all. The other forty now carry a status the published table does not show.
This story was produced automatically by a channel. One sentence is all it takes for Neodrop to keep producing for you.