It Doesn't Make It Easy

The market is not making it easy for the bulls or for the bears as it continues to make record high. Just in the previous session, the DJIA made a new all time high with confirmation from the DJT and the bulls see it as coast is clear for higher high. Then today, the DJIA making another new all time high by a slim margin of 0.30 with the DJT failed to close with a new high, and that gave the bears something to smile on. But before the bulls move to the sideline or the bears starting a field day, the Russell 2000 said not so fast. The small cap Russell 2000 closed with a new all time high that surpassed the previous high by more than 1% or 12.40, and to cast more confusion into this picture, the tech heavy Nasdaq 100 also closed with another new multi-year high and showing improved market breadth. So what should one do?

AAPL Price Action Review (Update) - 11/26/2013

AAPL broke through the 529/530 level and could be heading toward the previous pivot high near 539. There is a resistance pivot level near 555 in which lies the 141% Fib extension. Barring any major market correction, the near term target for AAPL is the 539 then the 555.

Doing The Shuffle

The market is looking a bit tire, but not too tire to prevent it from reaching another new all time high for the DJIA, DJT and a new multi-year high for the Nasdaq 100, NDX. The chart of the indices shows the SP500 and the Russell 2000 did not make new high along with the DJIA. There seems to be a bit of shuffling amongst which indices to join the DJIA in the new high territory.

It Doesn't Care

The market doesn't care what all those people are saying about how extended it is. The DJIA continues to hit new all time high, even with repeated Dow Theory non-confirmation and negative market breadth. As history has shown, the market will frustrate those that are trying to call the top and/or waiting for the correction. When these non-believers rush onto a running train that is when the market will do what they were expecting the market to do. Until then, trade what you see and not what you believe (I know, you heard this many times before, but are you doing it?) One more thing, 'do not chase the market or the stocks.'

AAPL Price Action Review (Update) - 11/21/2013

Here is today's update for AAPL. It appears to be making an attempt to reclaim previous support levels. Click here to view the previous update.

Nothing Has Changed

Although the DJIA made another new all time high and closed above the 16,000 level for the very first time, the other market indices really have not change their character. The picture from the chart below is nothing new, we have seen this before.

AAPL Price Action Review (Update) - 11/20/2013

Here is the latest update on AAPL price action. Click here to view the previous update.

DJIA Stocks Reveiw - 11/19/2013

Here is a quick review of the 30 stocks in the DJIA.

Get Defensive

Here are couple defensive stocks to watch.

AAPL Price Action Review (Update) - 11/18/2013

Take a look at the chart below. It appears to be playing out one of the scenario that was mentioned in the earlier video. If you have watched the video, then today's price action should not have been a total surprise, maybe unexpected, but not surprised.

Shhhh....

The elephant might be leaving the room. Here we go again, look at the chart below.

AAPL Price Action Review - 11/17/2013

AAPL continues to recover from its near term low. After forming a double bottom and tested the pivot point for support, it appears to be consolidating near the 515 level with a potential bull flag pattern. As it breaks this bull flag pattern, the measured move could project a possible price target near the 580-595 range.

HPQ Turnaround Play (Update - 11/16/2013)

Here is the first post I did on HPQ turnaround play. And here is an update on HPQ.

It Just Keep Going

The market simply keeps going up as there is nothing to impede its march toward the 16,000 for the DJIA and 1800 for the SP500. The Russell 2000 still lag all the market indices and warrant a close watch for clues of possible pull back or blow out.

The following chart shows how all the indices are synchronized on making new high while the Russell 2000 is trailing behind.

When Will This Stop?

Just when the market flashes a sign it is getting ready to take a rest, it re-energize like the energizer bunny and zoom to another new all time high for the DJIA, DJT, and SP500 along with the Nasdaq 100 making a new multi-years high. The only index that did not make a new high was the Russell 2000. While the market indices made new high, the internal market breadth continues to deteriorate, so when will this stop? The answer might appear when euphoric/panic buying occurs. Until then, pick your stocks, manage your risk, and trade your plan.

Here are the charts of the internal market breadth for the NYSE and the NASDAQ.

Stocks To Watch - 11/12/2013

Here are some stocks to watch for potential upside move.

State Of Confusion

As the DJIA continues to make new all time high without the participation from other market indices, the market is generating a state of confusion.

Fool Me Once…

The DJIA made new all time high twice last week. The first was on Wednesday, then followed with a big down day and a sudden reverse on Friday to regain all the Thursday losses and closed with another new all time high. The SP500 followed the DJIA and closed with a new all time high as well. Although the other market indices; DJT, NDX and RUT had a nice big green day, but not enough to push these indices into new high territory. All these market indices failed to confirm neither the Wednesday nor the Thursday new high put in by DJIA & SP500.

Non-Confirmed

Just one chart and one phrase "non-confirmed" DJIA new all time high.

Retailers Watch

Here are some retailing stocks to monitor for potential upside breakout: TGT, M, ANF, AEO, ARO

Chasing It Up

Here are three stocks with high short interest along with recent breakout could lead to short squeeze as the performance chasers start a run with their buying spree.

Marching On

Market made a new high early in the week then pulled back and started to consolidate the recent gains. The small cap, Russell 2000 pulled back with a bit more conviction than the other major market indices. This is probably due to the recent speculative run up on some of the small cap stocks. But by no means is this pull back signifying a top has been made by the Russell 2000. It might have been, only time will tell. But at the present there is no evidence to indicate it has made a top.