I did not expect as to bounce this much today but we did, so we need to go with it. I have shifted into a more neutral stance with a hint of bearishness. If we are able to hold higher tomorrow, and Friday, I will look to add some swing longs on. If however, we are not able to to hold higher and the market comes back down again then there is a likely chance. I will be looking to short. The market is in a very tricky area right here. We are chopping around the moving averages, and not providing as a trend to trade. This is frustrating to both bulls and bears. As of right now, I think “less is more” and I will look to start swinging some names after we see some confirmed strength. There will be time to buy – do not rush into it.
Nothing has changed with Apple. Still a broken stock and not doing anything. I would not buy or short it here.
Google is still holding in there. A break above the all time highs sets them one in motion again. Something to at lease watch.
Netflix is holding tough. Still a leader, and something to keep an eye on.
LinkedIn had a nice trade today through the bull flag. It looks good for more but it is hard to chase here.
HPQ held higher, showing more strength. Something to keep on the watchlist.
GMCR is breaking out, keep on the watch for continuation.
ADBE broke out today — something to watch, it failed the last time.
WMT tagging a downtrend line right now. Looks OK. Showed strength this past couple of days.
As always, contact me via Twitter (@BenCBanks) or email me via Contact page. Have a nice evening.
My charts I did today –