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Though I am leaning pretty short on the overall market, any time you have a large one-sided bet on the market, it’s always good to have a “go to” list for if those setups fail. VZ is interesting to the long side:

  • Market leader on our relative strength scans.
  • Has held up well on the market decline and continues to consolidate near the upper channel.
  • Volatility contraction often sets up a good directional move.

There are two broad ways I’d be interested in entering this stock: either on a breakout above roughly 44.00 or on a spring on a failure test below 43.00.

Might be a good idea to keep this one on the radar.