Stocks This Week: Sell Short Simon Property And Walmart

The S&P rose this week. The daily, weekly and monthly S&P 500 cycles flatten out or decline into mid-September. Breadth has been weakening over the last week. The 26th was likely a high. And, the end-of-month (EOM) period of strength run expires on September 7. Any decline is likely to be moderate.

Here are two stock recommendations for the short term.

The Simon Property SPG weekly cycle reached a high late last week. The cycle topped on the 24th and bottoms on September 5th. All seven sell signals in the last year have been successful. The monthly cycle is also peaking. The $65 area or lower is a likely objective.

Chart 1

Chart 2

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Chart 3 shows that the weekly Walmart WMT cycle topped in early August and bottoms on September 30th. All nine sell signals have been profitable in the last year, and the monthly cycle is also falling. Note that August and September have been weak months for the share price. The stock is likely to fall to the $125 area. Relative strength has been weakening since March.   

Chart 3

Chart 4

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