Well as we can all remember a few days ago the $SPX (Sp500) traded through a momentum level and then closed definitively below. Currently we are almost right back up to that level. The question everyone would like the answer to is whether or not we are going to break higher this time. Well, I do not know the answer (though I wish I did). All I can say is that there are some decent looking charts out there that look like they could be swing candidates if the market does decide it’s time to go. I will list some of them below after I talk about the main few.
Apple ($AAPL) had an off day. Whether it is game over again for this stock, I do not know but I can tell you this – it did show a little more weakness today. I am not looking to trade it long, there are better set ups out there.
Google ($GOOG) is doing the same thing it has for the past couple weeks, nothing. Google is out of play, and I do not like it. Not showing strength.
Amazon ($AMZN) is showing a little more strength today but as a whole it is still under some major resistance, and the MAs are still above the price. Not interested.
Now onto some more noteworthy names.
$PG – $PG has been trading sideways for the past few weeks and is at all-time highs. I like it long as a swing over the 77.75 level.
$WYN is looking really nice for higher prices. Nice momentum in this name, and the weekly chart is setting up as well for higher prices. Looking nice.
$MD – over 88.75 and this one can go again. It let the MAs catch up and now is looking like it wants higher. At all time highs.
$BSX – $BSX has a decent pattern and lower level base. Over the 7.60 level and we could see some higher prices out of it.