This A+ Chart Doesn’t Care About Greenland

Trade of the Day Wake-Up Watchlist

"In Profit Surge Trader, I like to find charts that are doing their own thing aside from index reaction."

Nate Bear, Lead Technical Tactician, Monument Traders Alliance

Nate Bear

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Earnings season is here, and I'm looking for setups in Profit Surge Trader.

Now, the big story affecting markets yesterday was what's going on with the Greenland/Denmark saga.

In short - Trump wants to take over Greenland.

But Denmark said they're not going to negotiate with the U.S.

This news made the markets a little heavy yesterday.

To be clear, I'm no geopolitical expert.

I don't know what's going to happen with the current overseas conflict.

But when the markets are roiled by news out of my control, I like to find charts that are doing their own thing.

And I believe I found a diamond with Burlington (BURL).

Here's why I love BURL's chart.

Even though the SPY was getting whacked yesterday, BURL is doing its own thing.

According to my S.A.M. Scanner, BURL has a perfect 195-minute chart, and the spreads have finally come in.

It has three A+ squeezes, plus a 78-minute squeeze. So its momentum is setting up for another big move.

Check out its chart below…

 

As you'll see, BURL recently reached a new high. Now it's consolidating nicely.

This is exactly the type of chart I like to trade in Profit Surge Trader. A move to all-time highs, plus consolidation, and then potential momentum back upward.

Plus, if the indexes turnaround, I believe this BURL chart could go even higher.

It's why it's the top chart on my watchlist right now.

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Action Plan: When the market is chaotic, I like to find charts that are doing their own thing outside the chaos.

BURL fits that bill.

I recently got positioned on BURL in Profit Surge Trader yesterday, and I'll be looking to buy a lot more if the indexes bounce.

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