I forgot to complete my thought...oil is at a turning point based on the charts. Will it turn today or will we continue our rally until Friday before it slams lower on Monday?
Did you devote most of your life to tracking AEA's moves? That's quite an obsession.
Six Flags (Acrophobia). There are weak resistance points below though so it's not as if it's a straight path downwards. Since we have formed a robust ceiling above, I just don't think we will rally past it.
In the short-term after hitting the ceiling, I would think the trend is your friend and it will be downwards. I'm sure we'll rally when we are about 1 to 1 1/2 weeks prior to earnings from the big boys (big tech) just as we always tend to.
The market can go a tad bit higher before it bumps hits head on the ceiling. I'm hoping we end at the resistance point. That way, we know what to expect at the beginning of next week.
I posted the message below early this morning:
"The stock market is misbehaving and you know what happens when you misbehave. You get whacked.
The transportation index is a good leading indicator and it is tanking but the market wants to try to keep its head above water without a float. There's only so much wiggling of the fingers and toes that the market can do."
The stock market is misbehaving and you know what happens when you misbehave. You get whacked.
The transportation index is a good leading indicator and it is tanking but the market wants to try to keep its head above water without a float. There's only so much wiggling of the fingers and toes that the market can do.
The market along with Apple will likely slide further tomorrow based on the charts.
Even if we (S&P500) bounced tomorrow, we would quickly bump our heads on what now is a solid ceiling of resistance. In other words, look for more pain ahead if you are long.
Oil did well today on recovering from it's earlier losses. That's the tricky part to digest.
Excellent buy on the resistance point...Isn't all 4's bad luck in Chinese though. I think it will work out well for you though.
Have some patience with Apple if you want to get in. You'll get a little better price if it hits the next support on the way down before you hope for a bounceback.
That's not to say it can't bounce back without hitting resistance. It's just safer to wait for a bit until it gets there.
We are green across the board. We fell through a resistance point yesterday. Let's see if we can break back through to the upside.
CMG doesn't want to participate in the rally today. It needs to wake up.
The options market had pointed to AAPL staying around 105 and it was correct today. Let's see how it plays out tomorrow.
At $4.60 per share, it was an excellent buy. You would have made a 100% already if you had scooped it up at that price.