We talked about in the Week Ahead post yesterday how as long as we held Friday’s we should be OK and looked like we wanted higher. We held that level today and are just a stone throws away from ALL TIME HIGHS (again). I do not know how everyone is still fighting this rally. It does not appear to be ending so you might as well follow it. The next level we need to see if $SPY can hold is around 157.80. If we are able to hold this level we are likely going to trade higher and make all time highs in a couple days.
Apple ($AAPL) has really had a change in character. While it still needs to get above and stay above the 50 SMA for more than a day or two.. it has shown some strong strength and looks like it wants hgiher.
Google ($GOOG) as well looks like it wants to go higher – maybe a little extended now but overall, higher prices are probable here.
Amazon ($AMZN) is a different story. Unlike the other tech names, this name is seeing outflows and these outflows are POTENTIALLY heading into GOOG and AAPL. Sometime to think about but I would say this, Amazon has had a change in character and it is NOT a good change in character.
ATVI is my top idea for the coming days/weeks (see chart below).
Have a great evening and as always, if you would like to contact me for question/comments you may do so on Twitter or here in the website via the Contact Me page.