Well we had the ninth day up today in the DJIA.. I do not know what the specific statistics are regarding how much this has happened – but it not much. We seem to still be consolidating higher on the daily charts ($SPY), before maybe heading even higher. We could spend a couple more days up here negotiating this level before ultimately making a decision on which way we would go. I do not think this is a time to be short everything, nor do I think this is a time to be long everything. Just take it day by day, and look for new bases that could form. Bases forming, and then breaking out of these bases lead to strong trends. Tact on trades are not as lucrative.
Apple is the same thing. Trash. Yes, it closed green today, but wicked down, and not looking like a long at all.
Sprint is still inside it’s macro pattern and looking FINE.
Facebook looks REALLY trashy. MAs curling over, and forming a “catch play” back into them. I think we can easily head lower from here.
Google needs more time to form a a new base.
Amazon not really doing much. Choppy.. Give it more time.
Overall we are in a choppy tape, and more time will likely bring us more clarity. Do not have major conviction to either side, however stick with the trend – and that has been UP.