Bullish on Apple
My intraday pattern work in Apple (AAPL) argues that the correction of this morning’s high at 266.47 is nearing completion ahead of a resumption of strength that should make its way back towards the 260 and then the 266...
Read MoreAuthor: Richard Hefter
Indices Bounce Back from Morning Sell-Off to Close Ahead
The stock market indices started out the day in sharply lower fashion with a big gap down as the futures were lower before the opening. But they quickly stabilized and then took off. Within the first hour and a half they had...
Read MoreJack’s Wrap for 07/20/2010 – Market Reverses Where It Needs To…
The market wasn’t happy overnight due to the fact that we had some bad earnings reports from Texas Instruments Inc. (TXN), International Business Machines Corp. (IBM), and this morning, Goldman Sachs (GS). Futures on the...
Read MoreGoldman Faces Key Resistance
Goldman Sachs (GS) has a chance to exert considerable influence on the markets this afternoon, despite earnings after the bell for AAPL and YHOO. But which direction? Yes, GS has climbed 4% off of this morning’s low at 140...
Read MoreSloppy Session Ends Higher
The stock market indices had an up-day to start the week, but the path was sloppy. They started off with some gains and then sold off sharply to new lows for the entire pullback, reaching 1795 on the Nasdaq 100 and 1061 on the...
Read MoreJack’s Wrap for 07/19/2010 – Market Earnings Start In Earnest Tonight…
It appears the market has been waiting for this for a while as it’s going nowhere these days. Since last Monday the market is basically dead flat. This includes the nasty 261 point down experienced Friday. Tonight we get...
Read MoreBAC Testing Low
As we speak the financials continue to be under pressure in general, but in particular let’s notice that Bank of America (BAC) is testing its July low at 13.50, while the S&P 500 is 6-7% above its July low. If BAC...
Read MoreHammered Hard
The stock market indices got hammered hard on Friday, closing near the lows for the day going away. The day started out with a big gap down and then a big sell of early on. They rallied back to resistance, failed, and...
Read MoreJack’s Wrap for 07/16/2010 – Uncertainty Gone Yet Market Races Lower….
Goldman Sachs (GS) had a headache over its head with the SEC going after them in a big way. Markets hate uncertainty, thus the stock had been under some strong pressure over the past few months. Late in the session yesterday the...
Read MoreDominent Downtrend Intact for S&P 500
The BIG picture Bollinger Band chart work on the emini S&P 500 shows that the recent vertical upmove from 1002.75 to 1099.50 traversed the April-July down-sloping price channel completely. But during the last 4...
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