Thursday, July 14, 2011

60 min Chart Update

The 60 min chart of SPX is showing some bullish divergence on today's trade. So we may see a rebound starting tomorrow. My preference would be for a rebound for a few days at least before possibly posting a new short trade.

AAPL is still pushing up trying to break it's old high of 365ish. I would watch for a break of the high then reversal below it with some conviction as a sign for a failed breakout. Weak volume on the breakout is another warning sign that stocks in general may not have the juice left to push higher.

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