We seem a little extended again on the daily chart of the indexes (specifically DIA and IWN). This does not mean we are in a big pullback phase at all but it does mean you should take off some risk. We have came a long way. We have continued to grind higher and my biased has been bullish and will remain bullish. The trend is up, and nothing says otherwise in the intermediate term.
Apple still is weak, it is going to need to form a potent move with VOLUME for me to consider it not a weak stock any more. I do not know when this will happen but until it does, I would remain cautious. This is only a trading vehicle now, I would not be swinging this one right now.
Google is hanging tough. Closed pretty well today and is still in the cards for higher prices. I like cleaner entries though. I still consider it to be consolidating, it needs to get over the 50 SMA with some power for it really to move.
Amazon just doesn't seem to ever want to go down. I wouldn't short it right now, it just seems to basing. A fall under the lows tomorrow could mean a larger pullback though. Do not chase the price also though.
LULU had a nice day and ALMOST if not broke the descending wedge. I think this one can go higher into years end.
Looks a little shorter today, I'm sorry. I am off to dinner tonight. Have a nice evening.
Contact info -
Twitter - https://twitter.com/BenCBanks
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Apple still is weak, it is going to need to form a potent move with VOLUME for me to consider it not a weak stock any more. I do not know when this will happen but until it does, I would remain cautious. This is only a trading vehicle now, I would not be swinging this one right now.
Google is hanging tough. Closed pretty well today and is still in the cards for higher prices. I like cleaner entries though. I still consider it to be consolidating, it needs to get over the 50 SMA with some power for it really to move.
Amazon just doesn't seem to ever want to go down. I wouldn't short it right now, it just seems to basing. A fall under the lows tomorrow could mean a larger pullback though. Do not chase the price also though.
LULU had a nice day and ALMOST if not broke the descending wedge. I think this one can go higher into years end.
Looks a little shorter today, I'm sorry. I am off to dinner tonight. Have a nice evening.
Contact info -
Twitter - https://twitter.com/BenCBanks
StockTwits - http://stocktwits.com/BenCBanks
Email - [email protected]
