We finally had a down day. That is not bad, at all. We need to rest. There will be some more negative sentiment this week though as some will try to call tops. I do not think that is necessary right now. If we are able to hold the 155 level in $SPY for the next couple of days we are likely are to see another trade through the all time highs. If we are bale to base/pullback a little for the next couple weeks we are likely bust through the highs, and continue to trend higher. This is what I am looking for going into next week. I am not really looking into many longs – there is a time for that, and right now is not really it.
Apple is still in a downtrend. However, it did show some strength today. I will monitor it going forward, maybe we can get a counter trend move.
Google is still dripping lower. There is no reason to call that the all – time highs. However, I would not be in it right now.
Amazon sold off more today. Not a pattern in this name right now.
I will be doing my weekend charts that will be uploaded on Sunday evening. I go over about 20-30 charts every weekend and annotate them with some thoughts. Make sure to come back for that.
You can also contact me via Twitter (@BenCBanks) or Email via The contact Page on this website. Have a good weekend.