CSCO Distribution Idea
CSCO looks to be distributing here and we may have already entered the markdown phase. The VPVR indicates some liquidity overhead, so I wouldn't be surprised for another test into that area before more distribution. I'm looking to short at that mid $43 level.
The four hour chart is also in its own micro TR that has yet to show a bias as far as I'm concerned, however, the macro looks bearish so I will go with the trend.
The four hour chart is also in its own micro TR that has yet to show a bias as far as I'm concerned, however, the macro looks bearish so I will go with the trend.
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