{"id":7709,"date":"2011-10-13T23:58:39","date_gmt":"2011-10-14T03:58:39","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=7709"},"modified":"2011-10-13T23:58:39","modified_gmt":"2011-10-14T03:58:39","slug":"wynn-follows-through-on-breakdown","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/","title":{"rendered":"Chart Review: WYNN Follows Through On Breakdown"},"content":{"rendered":"

In my T2108 Update on October 5<\/a>, I asked whether the last bear market would really last just one day (so far, so good!). In that post, I noted that Wynn Resorts Limited (WYNN) had suffered an important breakdown and concluded:<\/p>\n

“This breakdown swiftly moves WYNN from the bullish camp into the bearish camp. On rallies into resistance \u2013 like the converging 50 and 200DMAs \u2013 it makes sense to establish bearish positions in WYNN as a hedge against an otherwise bullish portfolio. If things get really ugly, WYNN has a LOT of room for falling down.”\n<\/p><\/blockquote>\n

Today (Oct 13th), WYNN ran into a brick wall right at the converging 50 and 200DMAs after a nice 27% rally from the recent lows. The chart below shows how the 50DMA served up perfect resistance that in turn transitioned into another breakdown below the 200DMA on high volume. This drop is essentially a follow-through to last month’s breakdown and confirms the bearishness of WYNN’s chart. Only a rally above the 50DMA will negate this bearish call.<\/p>\n


\n
\"WYNN<\/a>
WYNN breaks down again<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

Further supporting immediate downside are overbought stochastics.<\/p>\n

I am now short WYNN via puts and expecting a rapid erasure of the previous bounce before the stock continues to grind lower.<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long WYNN puts<\/p>\n","protected":false},"excerpt":{"rendered":"

In my T2108 Update on October 5, I asked whether the last bear market would really last just one day (so far, so good!). In that post, I noted that Wynn Resorts Limited (WYNN) had suffered an important breakdown and concluded: “This breakdown swiftly moves WYNN from the bullish camp into the bearish camp. On … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[483,512,62],"tags":[1597,109,156],"class_list":["post-7709","post","type-post","status-publish","format-standard","hentry","category-breakdown","category-resistance","category-technical-analysis","tag-technical-analysis","tag-wynn","tag-wynn-resorts-limited"],"yoast_head":"\nChart Review: WYNN Follows Through On Breakdown - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Review: WYNN Follows Through On Breakdown - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"In my T2108 Update on October 5, I asked whether the last bear market would really last just one day (so far, so good!). In that post, I noted that Wynn Resorts Limited (WYNN) had suffered an important breakdown and concluded: “This breakdown swiftly moves WYNN from the bullish camp into the bearish camp. On ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2011-10-14T03:58:39+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/10\/111013_WYNN.png\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"Chart Review: WYNN Follows Through On Breakdown\",\"datePublished\":\"2011-10-14T03:58:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/\"},\"wordCount\":231,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/10\\\/111013_WYNN.png\",\"keywords\":[\"Technical Analysis\",\"WYNN\",\"Wynn Resorts Limited\"],\"articleSection\":[\"Breakdown\",\"Resistance\",\"Technical Analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/\",\"name\":\"Chart Review: WYNN Follows Through On Breakdown - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/10\\\/111013_WYNN.png\",\"datePublished\":\"2011-10-14T03:58:39+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#primaryimage\",\"url\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/10\\\/111013_WYNN.png\",\"contentUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2011\\\/10\\\/111013_WYNN.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2011\\\/10\\\/13\\\/wynn-follows-through-on-breakdown\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Chart Review: WYNN Follows Through On Breakdown\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chart Review: WYNN Follows Through On Breakdown - ONE-TWENTY TWO: Trading Financial Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/","og_locale":"en_US","og_type":"article","og_title":"Chart Review: WYNN Follows Through On Breakdown - ONE-TWENTY TWO: Trading Financial Markets","og_description":"In my T2108 Update on October 5, I asked whether the last bear market would really last just one day (so far, so good!). In that post, I noted that Wynn Resorts Limited (WYNN) had suffered an important breakdown and concluded: “This breakdown swiftly moves WYNN from the bullish camp into the bearish camp. On ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2011-10-14T03:58:39+00:00","og_image":[{"url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/10\/111013_WYNN.png","type":"","width":"","height":""}],"author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"Chart Review: WYNN Follows Through On Breakdown","datePublished":"2011-10-14T03:58:39+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/"},"wordCount":231,"commentCount":0,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/10\/111013_WYNN.png","keywords":["Technical Analysis","WYNN","Wynn Resorts Limited"],"articleSection":["Breakdown","Resistance","Technical Analysis"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/","url":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/","name":"Chart Review: WYNN Follows Through On Breakdown - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/10\/111013_WYNN.png","datePublished":"2011-10-14T03:58:39+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#primaryimage","url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/10\/111013_WYNN.png","contentUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/10\/111013_WYNN.png"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2011\/10\/13\/wynn-follows-through-on-breakdown\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"Chart Review: WYNN Follows Through On Breakdown"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/7709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=7709"}],"version-history":[{"count":3,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/7709\/revisions"}],"predecessor-version":[{"id":7713,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/7709\/revisions\/7713"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=7709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=7709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=7709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}