Well here we go, we are trying again for a the highs. We gapped down this morning and then closed all the way up. There are obviously a few mixed signals out there.. The banks for one. That being said, I am looking at the $SPY and seeing a strong chart that wants to break higher. As long as we hold in this wedge pattern on the daily, I think we see higher prices. Holiday week ends tomorrow, so the market is NOT open on Friday.
Apple ($AAPL) is looking like it is getting back to it’s old self. I do not like the action in it – NO strength. I would skip it. Needs to start showing more conviction.
Google ($GOOG) is the same way. I do not really like the action, and it looks like it wants lower.
$V $MA both had continuation today, I sold my $V yesterday so I did not catch this move (oh well). I would not be chasing them here. Wait.
Amazon ($AMZN) woke up a little today and had a nice move. I do not think you need to buying though. The 50 SMA will serve as some resistance, but it is nice to see some rotation into something.
Facebook ($FB) also had a strong day, nice volume as well. I do not think it is a buy now though. Let’s wait for a little more confirmation – like holding higher.
I will likely post some more charts this evening, but right now I am off to study Chemistry. If you would like to contact me for questions/comments please use Twitter or StockTwits or The contact Page on this website. Have a good evening.