Well after we broke higher and traded higher on increased volume I can't help but alter my thesis a little; if I don't ever change what I believe will happen, I will lose a lot more money.
Today we broke out and closed above a key trendline I had been watching and we had increased volume, AND we came out of a base (giving the move a little more juice). Right now we are still a little extended but I cannot help but to say a more bullish than bearish at this point. There is resistance near but so far we have not had a potent/legitimate sell signal. I have tried to "call the top" (my mistake) for a couple days and in hindsight I should have been focusing on better longs. So going forward, I would look for a little bit more continuation upwards but do not chase if you are not already in (unless we cross the days highs). In summary - stick with what is working.
Apple has been a laggard, and a extreme what at that. It sold off at the start of the day, filling the pre market gap up. This is bearish in itself. Then we found support later in the day and traded higher, coming way off the lows - with good volume. I still do not consider Apple a buy right now. I think it still has a lot to prove but is a trading vehicle (day trading).
Google I said yesterday looked really good for higher prices. It did well today and still looks pretty good, despite closing red (open vs close). Overall the chart is bullish and I would raise my stops to the low of today.
Amazon is not really performing like you would like to see after a break to all time highs. It is not continuing it's strength (which is concerning). I will continue to monitor this one and tell you when I think it is ready to go again or fail here. Stay tuned. It is a no trade for right now.
DELL ($DELL) looks good for higher prices as it has a good volume pattern and is consolidating nicely. I would look to add/buy on a break out of this consolidation.
Sprint ($S) is looking REALLY nice and it remains one of my favorite picks for 2013 and in the near term future. I am looking for a entry soon but overall, I would call this a BUY right now. The weekly chart shows a beautiful cup and handle pattern that is breaking out.
The homebuilders did not really go anywhere today but they are still holding in there. Some are at some support so they could bounce off there tomorrow. I would continue to monitor them, and look for entries. They still look good.