Alright well the website is still a work in process. Maybe by the end of the week it will be up! I can’t wait!
Anyways, the market today held up very well. As I had tweeted early this morning and probably on the daily analysis yesterday.. I thought the 8 EMA would be bought and we could go higher from there. That is exactly what happened. Going forward I still remain cautiously bullish – we look good technically but to truly ensure higher prices we need to consolidate a couple more days. If we have another leg higher right now it could easily considered extended, and unbuyable – bulls do not want this. As long we continue this trend of holding higher and staying above the 8 EMA the more I think we can go higher. I am in the camp though that we could see another push higher and then a sell off to the trend line (see chart).
I plan on doing a full post on Apple with MANY charts but I do think that the position traders may want to consider buying some back now. It is on a long term support level/trend line and could see at least a bounce. Will post more on a individual post. Stay tuned. All the charts will be on this post too.
Google had a wild day but closed more in the bullish camp. I still think google is in for higher prices though I would wait for the pattern to develop a little more first.
Amazon is hanging tough, not a conviction buy right now for me though. I still think we can go higher but would like a more bullish candles to take place and better set up – keep it on the watchlist.
Dell continued today after I mentioned it this past weekend that it looked good. Now I think that it needs time but I still think that 14.60 is a reasonable target.
$GG did well today after I mentioned it this past weekend. I would not look to buy now because it did not have any real volume behind the move but if you took the trade – congrats.
New website up soon. Overall the market is holding in there. Will be on the look out for a sell signal but still looks like it wants higher.. At least for the short term.