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Before I start, there are a few changes I have made to the blog as past visitors can easily see. First off, I deleted the "trading journal", "Charts" "search" and "Daily Analysis" pages. Secondly, I changed the theme. I did these two things because I wanted to make my blog look more professional and a lot cleaner. Do not worry, I will still post all the same content that could have been seen on those pages but now they will be strictly on this page. This is for the benefit of me and you. Now onto what you really care about --
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The marker sold off a little bit again today making it the third down day we have seen after the reversal candle we saw on Wednesday. I still believe this is a healthy market though it is tricky. We have seen a lot of choppy mixed information action but for the most part, we have been going up and uptrendling. During uptrends, pullbacks are necessary, and they are buyable. As of right now, I consider this a pullback but I will not bid into it because of the high er volume days that past tow days and some of the underlying sectors/stocks I am following are showing me something different. I will buy when we see a reversal or probably once the new year comes. 

Apple fell below the wedge I have been talking about today on very high volume. I am a firm believer in staying away from the weak, and if you adhered to that rule, there would have been nothing to worry about with Apple. Apple has proven it is weak, and has been weak ever since the market has continued higher and Apple was stopped dead in it's tracks and fell. For anyone that still owns it, 500 has got to be the line in the sand for you. There will be trades long in Apple but as right now, it is in a downtrend and very weak. 

Google gave you a reason to be cautious yesterday and today we just a a very small bounce (open vs. close) on very light volume. I would still be hesitate with Google, it is not a buy for me. Needs to hold the 695 level to show some strength. 

Amazon is not really in a tradebale area for me. It looks like it wants to go a little lower but there is support around here and the volume is not confirming the bearness of it. I do not see a trade right now in it. I would like to see it hold 246.

The banks have really held tough this weak and today. I think we can see higher prices in them, and these are the ones you would like to buy on good low volume pullbacks. Some banks I am watching are; $C, $JPM, $BAC $MS - I believe these are some, if not the strongest ones out there. They may not be quite ready though. $MS broke out today but really didn't confirm it with any volume therefore I would remain on the sidelines until more confirmation with these names. 

$NUE and $X both woke up today, I was watching them both to see if they could coil up some more next to resistance before buying into them but that didn't happen - they went today. $X is stronger than $NUE and may be buyable on a light volume pullback. Keep it on the watchlist. 

That is it for now. Make sure to check back here throughout the weekend for more charts/posts. Have a good weekend! 

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The charts will be on the Daily Analysis posts from now on - 
Now, some weekly chart because it is then end of the week ---



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