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I am basically ready for anything next week. We have seen two false breakouts over the past two Mondays. However, the bears have failed to turn those failed moves into fast moves lower. Instead, the 1390-1400 area on the S&P 500 has continued to hold as firm support. We know that some of the larger cap technology stocks and cyclicals are quite extended here, such as AAPL CMG PCLN, but that does certainly not preclude a continued move up. Overall, the market is in an uptrend, which means the bears have the burden on them to take away the initiative.
I used today’s session to tighten up my long watchlist inside 12631 headed into the new quarter. I relayed to members which specific areas of the market are ripe for inflows. We have a great community and the best atmosphere for traders anywhere inside 12631, as @RaginCajun and I offer real-time analysis and trading ideas around the clock. Please click on the 12631 hyperlink for more details, and feel free to read our actual members’ testimonials.
Have a great weekend. I will be back later with more analysis.
