Facebook broke up and out of the daily chart rising wedge. When this occurs, we should see an acceleration to the upside, perhaps concluding the first leg higher of this post-earnings ramp. Failure to do so would be a particularly concerning sign, but make no mistake that Facebook is a monster that I have no interest in shorting.
Next, Treasuries, on the 30-minute chart, are rolling over a bit here. You might say that is an inverse head and shoulders bottoming pattern, but overall Treasuries remain in a stubborn downtrend until TLT can at least get back above $106.68.
_____________________________________________
_____________________________________________
nice duo indeud!
Do you see the all-time high of $45 from IPO day as being resistance?
and Dow bumping up against 15000 here today…
thanks!
It could be but $38 was the big level to me. I would focus on the rising wedge analysis above–It should accelerate here. If not…a warning sign in my view.
hells yes
that was re: $FB not the patriots above 😉
LoL
rising wedge indeed