CTA for EWW as of 2024-01-16

CTA for EWW as of 2024-01-17

CTA for EWW as of 2024-01-18

CTA for EWW as of 2024-01-19

MTP for EWW as of 2024-01-19

Chart for EWW as of 2024-01-22

The CTA report showed the potential for longs to be backing off their positions starting Wednesday (the 17th), and Thursday (the 18th) showed there could be a flip to shorts. Now today we have a downgrade on one of the longer timeframes of the MTP report. There is hesitation though because we are past halfway in to a 9 count.

Looking for a bounce off the 50EMA and then a convincing break below before entering a long PUT