Tuesday, May 15, 2012

Apple Update

Apple looks ready to drop into the $530 price zone.

As confluence, we've got a previous swing high at $526.29 and an open gap at 530.69 which establishes the support zone.

Once this reaction concludes I expect to see Apple trade above it's all time high at $644.

Wednesday, May 9, 2012

S+P 500 update

The broader market has been rattled by Euro news once again, it looks like a replay of last year all over again.

What I am anticipating over the next couple of months is a bull market correction to the 1290-80 level on the S+P shown on the chart above.

In either case I still believe the up trend is intact and that once this low somewhere around 1290-80 takes place over the next month or so, the bull market will resume and make new highs above 1422.