Earnings Watch - 4/20/2014

In this video, we will take a pre-earnings look at NFLX, AAPL & FB.

Click here to view the video if you do not see a video player on your screen.

Am I Crazy?

After having many stocks lose 20% or more in the recent weeks, and the DJIA loss slightly more than 546 points in 6 days, am I crazy to say the DJIA could be getting ready to make another attempt to close with a new all time high. Absolutely not, but of course I could be wrong. However, I will not be surprise to hear others echoing what I just said after they have start noticing what I will present to support my hypothesis.

Same Play, Different Inning - 4/15/2014

The market essentially did the same thing as what it did in the previous trading session. It rally a bit, then sold off, and recoup its losses and close near the high of the day. The difference is the rally happened at a different time. Yesterday it was 40 minutes before the close, and today it was slightly after 1:00pm EST.

Short Covering Or Reversal?

The market stayed in the green throughout the morning. It started to fade in the afternoon and hit bottom going into the last hour of trading. In the last 40 minutes of trading, the market reversed and rally back up near the high of the day with fairly descent volume. Is this a short covering rally or the end of the recent pull back? Once again, we will wait for the market to inform us by watching its price actions.

Earnings & MOMO Stocks Watch - 4/13/2014

Earnings report will kick in for some of the MOMO stocks next week. Some of the notable stocks scheduled to report earnings are: YHOO, GOOGL, SNDK & CMG.

Spooky Round Numbers

Last Friday, the market was trying to hold its ground and trying to stay in the green throughout the day until the late afternoon. As the market headed toward the close, the bottom fell off and the entire market sold off once again. The price actions pretty much play out to a scenario we have discussed in the previous video. Now for next week, the key levels to watch are those psychological round number levels. For the DJIA, the round number is 16,000, 1800 for the SP500, 1100 for the Russell 2000, and the 4000 for the Nasdaq Composite.

Shipping It Out

Recently, the high beta tech and the biotech stocks have been taken down. As the market continues to retreat, look for different sectors being taken down. Here are couple shipping stocks that appears to be in the initial phase of rolling over; FDX & UPS.

Back On Course

After yesterday's huge upside move, we posed the question on whether this is a dead cat bounce or a reversal of the recent pull back. Since no one has a crystal ball to tell the future, we simply remind ourselves to watch today's price actions for answer to our question. And based on the price action, the answer appears to be a resounding "dead cat bounce". The broad market sell off today clearly put it back on course for more downward move.

Exceeded Expectation

The second day of this dead cat bounce exceeded expectation. After the release of the FOMC minutes, the market rallied through the resistance level and put in a stellar performance. It even rally into the close with a gain of slightly more than one percent.

Dead Cat Bounce - 4/8/2014

Today the market bounced just as we suspect it might. Lot of the recently battered high beta momentum stocks led the bounce. Is today's bounce a dead cat bounce or another buy-the-dip opportunity? Instead of expressing our opinion, lets wait and see what tomorrow will bring. If there is no upside follow through with conviction within the next couple days, then we should be prepared for further downward move.

Looking For A Bounce

The market continues its downward slide today. But the price actions might have reached a point where a short term dead cat bounce might be in the offering within the next day or two.

Stocks On The Watch - 4/6/2014

Here is a look at some of the stocks by request and some high beta stocks that have experienced huge price changes in the recent weeks.

Where To?

Since the beginning of 2014, the market has been choppy. As the pullback occurs more frequently and more swiftly, it can only mean one or two things. Either the market is simply consolidating the enormous gains from 2013 or the market is in the final phase of a multi-year up trend.

Still On Course

The SP500 made another new all time closing high today. Although it made this historical record high all by itself, but the DJ Industrials only less than 50 points away from its all time closing high. The Nasdaq 100 and the Russell 2000 participated in today’s market rally, but their current level is still some distance from their previous high. The market breadth is mixed. Therefore, until we see the DJIA makes a new all time high, the market still on course to where it is destine to be, wherever that maybe. In the meantime, be selective and defensive, and don’t extend yourself too far away from the chair. You do not want to be the one standing when the music stops.

Fertilizer Stocks

The fertilizer stocks are showing sign of moving higher.

Recap For 3/26/2014

Here is a video on the market along with some of the stocks that were mentioned in the recent days.

Click here to view the video if you do not see a video player on your screen.

Stay The Course

The market continues to be on course toward its destination. For those that have been through bull/bear market cycle, then the course the market takes to reach its destination should be familiar.

Whether the recent shift to what some categorize them as ‘value’ stocks is the turn the market take to get to the top or not, only time will tell. But, as interests grow on stocks such as IBM, CAT, MMM, and others stable, high quality stocks, one must ask if this is the flight to quality?

Shifting

The market remains near the all time high territory while some of the recent high flyers starting to give way. Many that have been benefiting from this prolong market run up feel they are invincible. This is typical in a market that has gone so far without a major shakeout and near the climax phase.

Looking At Things

Do you always look at things as they are, or you look at things at what you (consciously or subconsciously) like to see?

No Surprises

The result from the vote in Crimea was to rejoin Russia. There was no major violence breakout in Ukraine and the US & EU sanction is not a backbreaker to Putin. Therefore, the market re-positions itself back to where it was prior to this Crimea uncertainty. The market still cannot find a reason to sell off other than headlines that cause these minor couple percentage dips.

Wait And See

As the Crimea vote approaches, the market brace itself by pulling back to avoid the possible onslaught of reactive selling. There shouldn’t be a big surprise the outcome of the vote is to join Russia. The uncertainty is not on what will be the voting result, but it is on what will happen after the vote. Will there be uprising internally between the Ukrainians and the pro-Russia backers in Ukraine? Will this uprising be an excuse for Russia to invade Ukraine and permanently station its troops inside of Crimea? These are the uncertainties that the market is pondering. What will be the consequence on the global market when the US and EU impose sanction on Russia (if they do carry out their bluff.) But in regardless what is going to take place, the market doesn’t appear to be in the 10-15% corrective mode that many of those market top callers been waiting for. Certainly the mood can change from the ‘wait and see’ to ‘sell everything then question later’ if some unexpected event occurs. But until there are signs that the market is in a full retreat, the market will continue to move higher from these minor dips until all those non-believers capitulate and buy this market at all cost.

No Letting Up

Today the market sold off and it appears to be more scary that it was. Looking at the 30 minutes intraday chart for the SP500 ETF, SPY, and you could see the reason why it feels that way. It essentially went down shortly after the open and there was no letting up along the way. It is down, down, down continuously. Similar for the DJIA ETF, DIA (click here to see the chart). So where is the market heading?

Morning Earnings Call

Tomorrow morning, some of the widely watched stocks will report their earnings before the market open. Here is a look at some price targets based on the options market pricing for HZNP, GOGO, and PLUG.

Taking Advantage

As the market continues to pull back, wait for the market to tell you it is safe to re-enter longs. Do not try to take advantage of this pull back by being a hero and go bargain hunting. The bargains you find could turn out to be a much better bargain if the pull back turns into a major correction.

Stocks Pulled Back

Last Thursday, many stocks that have run up show some sign of upside exhaustion. Therefore, today's pull back/consolidation on many of those stocks should not be unexpected or surprising. The market ended down modestly. Although there are stocks making extraordinary gains such as those in the fuel cell sector and the biotech sector, one should not get into an emotional chase mode after these price move. More importantly, don't be greedy if you caught one of those trades.

Stocks To Watch - 3/10/2014

Although the market appears to be setting up for a pull back, but there are still stocks with good setup for possible long. Here are three stocks; MMM, GE, and HK that might be worthwhile keeping an eye on for potential upside breakout.

The Long & The Short On AAPL

Recently, AAPL has not been an easy stock to put on any kind of swing trade. It was easy to trade when it was in a trend. When it is chopping around like it has been recently, it could be very frustrating.

Setting Up

After a huge run up since last Monday sell off, the market appears to be setting up for another pull back to digest the recent gains. Lot of stocks were showing short term upside exhaustion on Thursday. The prudent thing to do is to set the stops to protect the profits and prevent turning a winning trade into a losing trade. The market has not indicated it has made a top yet. Therefore, one should not be tempted to short this market when the pull back materializes.

Too Much Too Fast

Today the market opened with some strength but unable to really build on that opening strength. Similarly with many stocks, lot of them pulled back from their high of the day (HOD) and many of them even went below their opening price. It appears the recent run up is too much and too fast, and that made it very tempting for those that bought it at lower prices to take profits.

Stock Watch - 3/5/2014

Here is a brief update of the price actions for MS, GS, BAC, GM, F, MU, HIMX, BBRY, JCP, AMD, YHOO, HPQ, AAPL, AMZN, FB, TWTR.

Expect The Unexpected

Once again, the market reminded us to expect the unexpected. When the Russia and Ukraine conflict flared up last Friday, everyone was expecting the market to sell off big time when trading resume this week.

Stocks On The Watch - 3/2/2014

In the following video, a review of the price actions for NQ along with a look at possible swing long for MS, GS, GM & F.

Stock Watch -3/1/2014

The market ended the month of February with a new all time high for the SP500. A geo-political conflict is flaring up in Ukraine, and that could put a damper to the recent rally. By no means is this market indicating it is ready to roll over. There are still many stocks displaying good setup for possible further upside. Below are the charts for some of these stocks that might be of interest to keep an eye on for the coming days.

A Volatile Friday

We were expecting a volatile Friday due to OpEx, but this afternoon sell off is a bit more than the typical OpEx pinning price action. But we should not be surprise to expect some consolidation before the market put in a newer high. In this video, we will take a brief look at recent price action and some of the price support levels to watch if the market decides to pull back to consolidate the recent gains.

Market Made A New High Minus The DJIA

Today the SP500 and the Russell 2000 made a new all time high, and the Nasdaq 100 made another multi-year high. Although the DJIA was absent from this new high party, but the signs are telling us it is not a matter of 'if' but a matter of 'when' the DJIA will make a new all time high. For this reason, focus should be placed on the next new all time high from the DJIA. And the key things to pay attention to are the market breadth and the participation of the other market indices making new high along with the DJIA. Until then, continue to trade on the long side with cautions.

Is A Squeeze Coming?

It appears BBRY has been getting some positive market response ever since the $19B FB purchase of WhatsApp. Previously, no matter what the news are for BBRY, the consensus is “too little, too late.”

The Music Plays On

Just as suspected, the market pulled back and gave up some gains from previous trading session. The SP500 closed down couple points but still remain near new high territory. It will be interesting to see if the market will put in a new high before the end of this trading week when the month of February will come of an end.

Keep Watching AAPL - 2/24/2014

If you are trend trading or position trading AAPL, the big picture said it is still in an intermediate uptrend until it breaks below 493.55. Just keep watching.

Close But No Cigar

The market started the new trading week with a bang. The SP500 took off to the all time high territory but failed to close with a new high. The tech sector Nasdaq continues its upward march and closed with another new multi-year high. The Russell 2000 finally caught up with the other indices and only a few points away from its all time high. The DJIA was the weakest link. Although it closed up more than 100 points, but it is still nearly 370 points away from its all time high.

Gold And 3D Printers - 2/23/2014

The precious metals have been rallying from their recent bottom, and they appear to be setting up for further upside. The 3D printer segment got hit fairly hard during the recent pull back and now it appears to be making a comeback.

The Market Snapped Back

The market continues to show strength on the upside. By taking a step back and looking at the weekly price action for the indices, one could see the hammer like candles printed from the recent pull back. The hammer candles highlighted how quickly this market has snapped back. The Nasdaq 100 made another new multi-year high last week, while the DJIA, SP500 and the Russell 2000 are near their all time high. Until this market shows a clear sign of a top, one should continue to trade the price and let the talking heads make a fool out of themselves by trying to call the top. The fact is we won’t know the top is made until after it has been made. Continue to trade defensively and manage your risks.

The Hype Goes On

This is beginning to look like deja vu. Paying ridiculous stratosphere valuation to acquire a company and the puppets trying to put on a straight face to tell their story how a stock can justify more than 130 multiples. If you are old enough, you probably have an image of those bygone dot com bubble days in 1999-2000. Who say history doesn’t repeat itself, here we go again. For those that were lucky enough to have survived the tech bubble, let see if you can capitalize from the experience.

Stocks And Market Watch - 2/17/2014

The market continues its rebound from recent pull back, and it is getting near to its all time high.

In this video, we will take a look at some of the possible levels to keep an eye on for the market indices and for the following stocks: AAPL, FB, GOOG, GS, BAC BBRY, MU, AMD, HPQ, and gold ETF GLD.

Stocks And Market Outlook - 2/11/2014

The market continues its bounce off the recent pull back. Although volume is still relatively low and that cast some doubts on the validity of this rally to many market participants. When these disbelievers throw up their hands and chase the move is when the market will likely be making an attempt to take out the previous all time high.

Changes Are Coming

As speculative spirit getting into high gear chasing those speculative hot stocks; low price biotech and China IPOs, the market continues it progression toward its topping phase. As the trend of the market changes, so will the macro picture.

Stock Market Outlook - 2/9/2014

The market started to bounce back from the recent pull back in mid week. In this video, we will look at some of the price levels to monitor for the coming week for the market indices' ETF, SPY, DIA, QQQ & IWM.

Stocks And Market Watch - 2/6/2014

The market finally bounced with some strength today. In this video, we will take a look at the price action for the SP500, DJIA, BAC, FB, BBRY & MU.

Different Tactic For A Volatile Market

The month of February started where January left off, ‘down’. Today the DJIA loss more than 300 points while the SP500 down little bit over 40 points. Almost every talking heads and many market participants are anticipating more downside for the market. Not to dispute that possibility, but as one know from experience, whenever the majority is leaning on one side expect the opposite to occur. The market rarely does what is obvious. Since it is so obvious to many that this market is going down, expect the unexpected! Not saying one should go against the trend and go long. Instead, be defensive and move to the sideline if one does not have to trade. Wait until the market has found support level and formed a base before resuming to the long side. In this volatile market, only quick and day trade stand a chance to survive. Be cautious, trade defensively.

In this video, a review of the SP500 and a trade review on AOL.

Where To For AAPL

After an eventful week for AAPL due to its quarterly earnings report, a reassessment on its technical is warranted. In this video, a look at some of the possible price action and key levels to monitor in the coming week.

Stock Market Outlook - 1/31/2014

The first month of the New Year has come to an end and the market ended the month of January on a negative note. Every time the market goes down in the coming days or weeks, you will hear those talking heads talking about those January effect correlation and reminding everyone how 2014 will likely be a down year, etc, etc. All I can say as a trader is one should be trading the market base on price actions not how the year will end. In regardless if the market is in a down trend or an uptrend, there will be rally and sell off. Therefore, trade according to the price actions and what is in front of you.

AAPL Max Pain

If the current open interests for AAPL weekly options hold, then the price of AAPL will likely gravitate near the 510 level. The open interests imply a pin at 510 will result with max pain at expiration. This 510 level was discussed in the “AAPL Earnings Watch” and the “AAPL Post Earnings Watch” post. Here is the chart and the OI stat.

AAPL Post Earnings Watch -1/27/2014

This is a video looking at one possible scenario for AAPL post earnings short term price movement.

AAPL Earnings Watch

AAPL has been holding up quite well while the market pulls back. It is schedule to report its quarterly earnings on Monday after the market closed. The rectangle on the daily closing price chart marks the projected price move of +/-31 that is being priced in by the options market. The projected move set the upside price target near 577 and the downside price target near 515 based on last trading session’s closing price.

Stock Market Outlook - 1/25/2014

The market finally gave us the long awaited pull back. But is this simply a pullback, or is it a major trend reversal? No one really knows until it has happened. The only thing one can do at the present is to identify price levels where buyers or sellers might exert their control. When these levels are reached, one can then assess the possible direction of the market based on the resulting price action.

Stock Watch - 1/21/2014

A recap on some of the stocks that were highlighted in recent videos along with couple newly added stocks to watch. These stocks are reviewed in this video: ANGI, FB, TWTR, AMZN, CELG, PCLN, GOGO, BBRY & HIMX.

Stock Watch - 1/20/2014

Here are a few social media/web base stocks to watch for possible breakout: TWTR, LNKD, ANGI, & TRLA.

Stock Watch - 1/16/2014

In this video, we will take a look at the price action for ANGI, CSCO, ARUN, CRM, FFIV & PCLN.

PCLN (Technical Analysis Made Simple) - 1/15/2014

Here is a short video showing how one can perform a simple technical analysis on PCLN for potential entry, stop level, and possible price target.

Stock Market Outlook - 1/15/2014

Here is a brief look at the market indices & their respectively ETF price action.

JPM Earnings Watch – 1/14/2014

JPM will be reporting its quarterly earnings before the market open for trading today. By analyzing the options open interest and the cost for a straddle and a strangle, one can speculate JPM stock price will be somewhere between 57.50-55.00 on option expiration this Friday.

Stock Watch - 1/13/2014

In this video, a look of the price action on the stocks that were tweeted during today's trading session. the stocks that were tweeted: FB, TWTR, TSLA, FCX, AMZN, AAPL & SPY.

Waiting For Re-entry

After exiting the trade for FB, FCX and AMZN recently, I am now waiting for it to setup and/or trigger to enter another trade. Here is what I'm waiting for before I consider re-entry.

Stock Market Outlook - 1/12/2014

A look at possible price levels for the market indices and their respective ETF: IYT, DIA, SPY, QQQ & IWM.

What's Your Preference For TSLA?

Here is a short video presenting both side of the trade possibilities for TSLA.

Stock Review - 1/8/2014

In this post, I am experimenting with the concept of posting separate video for each stock or a small group of related stocks. The objective is to allow you to view only the video for the stock you are interested in. Let me know if you like this new format or prefer the old format in one consolidated video. Please use the 'comments' section or use the 'contact' page to express your preference.

Stock Review - 1/7/2014

In this video, the following stocks are reviewed: MU, SNDK, GMCR, MS, ZNGA, Z, FB & TWTR.

Will Financial Take The Lead?

Here is a look at some of the financial stocks to see if they will lead the market higher in the coming days/weeks.

Lady Luck Ringing In The New Year

As we enter 2014, the first two trading sessions have been mixed. But what have been strong are the casino stocks. When these stocks pull back along with the market in the coming days or weeks, keep an eye on possible setup for new swing long opportunities.

Technical Analysis (GRPN) - 1/3/2014

A brief video on how to perform technical analysis using price actions to determine trade setup, trigger level, possible price target and stop level.

CMG Double Flag

CMG has developed not one bull flag, but two. Depending on which time frame you are trading, there is a bull flag based on intraday chart and another one based on the daily chart.

Market Ended 2013 With A Bang

The market displayed some early firework to welcome in 2014 as it ends 2013 with new closing high for all the major indices. The market breadth is showing some improvement, especially the A/D line. At the present, the message from the market is newer high is yet to come.

In this video, some of the breakout price levels for the market ETFs and for AAPL, NFLX, FB, TWTR, GOOG AMZN are highlighted.

TWTR Trade Review - 12/30/2013

If you were day trading TWTR today, hopefully you caught the midday rally. If you are not a day trader, you should have been patient and waited on the sideline. Here is a look at today's price action.

Stocks To Watch - 12/29/2013

In this video, a look at possible price action for AAPL, TWTR, FB, NFLX, GOOG, AMZN & TSLA.

DRYS Breakout

Since the mention of this shipper, DRYS as a macro play on the thesis of an improving economy for 2014, it has surged upward after it broke a long term inverted head & shoulder price pattern. Here are the updated price charts on DRYS with possible near term price target.

OpEx Pin For AAPL, NFLX, FB, TWTR

These are the possible weekly OpEx pin levels for AAPL, NFLX, FB & TWTR:

Two Semiconductor Stocks To Watch

QCOM and SNDK could be breaking out to a new 52 week high. Here are the charts.

Market Could Hold Its High

The market continues to make new record high. Here are three Dow stocks that could be perking up: IBM, MCD & CAT. The DJIA could be holding up in the record territory for sometime if these stocks start to move toward their 52 week high. Keep an eye on these three stocks for possible near term breakout.

AAPL Price Action Review (Update) – 12/25/2013

AAPL gap down when the expected deal announcement with China Mobile did not materialize on December 18. And when the announcement of the deal finally came before the new trading week starts, the market greeted the actual announcement with a gap up open and closed with more than $20 gain for the session. This opening gap probably will not be filled prior to getting back to previous pivot high near 594 if can close above the 575 level. If the gap gets filled without reaching 594 first, then the 594 target could be in doubt.

TWTR On Target

TWTR appears to be marching toward the bull flag price target near 74. Even on Christmas Eve with an abbreviated trading session, its stock price advanced with conviction and heavy volume. It has reached the 141% Fib extension target and more. It is currently sitting near the 80% of the bull flag projected move. The full extent of the bull flag move is near the 74 level. As TWTR make its way to the 74 level, it could encounter resistance at the 161% Fib extension which is slightly under the 74 level. Having the price near the 80% of the projected measure move and nearing the 161% Fib extension, these technical factors could become the catalyst for a pull back since TWTR has gained more than 25% in the last 4 trading sessions.

AAPL & Friends Greeted Traders With A Big Holiday Cheer

AAPL held the opening price gap from the announced deal with China Mobile. The rising price channel upper trend line near 594 still in play.

Pre-Holidays Stock Review

Many traders will be away and volume will be light for the Christmas holidays week. Therefore, beware of increase volatility for the coming week. Here is a brief look at the chart for the following stocks: AAPL, FB, TWTR, GOOG, GS, MS, and JPM.

Everyone Lined Up

After a day where the DJIA stands alone on making a new all time high, the other market indices regrouped and joined the DJIA on making another new all time high.

AAPL, FB, TWTR & CELG – Quadruple Witching

Tomorrow is quadruple witching, SP500 and Nasdaq rebalancing. Therefore, anything can happen. Here are the updated charts for AAPL, FB, and for couple stocks to watch; CELG & TWTR.

Getting Nervous

The DJIA closed up once again, and that mean it made another new all time high. One would think the market technicians are celebrating with joy and holiday cheers. Well, maybe those technicians that only watch the stock charts and pay little or no attention to the market breadth are celebrating. Those that are the true student of the market are probably getting a bit nervous. Here are some of the things that cause these market technicians to be nervous: 1) non-confirmed DJIA new high, 2) down volume greater than up volume, 3) declining issues outnumbered advance issues, 4) less than 200 issues made new 52 week high, 5) issues made new 52 week high nearly equal to number of issues made new 52 week low. Notice these are all market breadth, not a derivative of the price, i.e. RSI, moving average, etc.

AAPL & More

Updated chart for AAPL, FB, GS, MS, JPM:

Rerun Once Again

It’s just like watching a rerun on TV because we have seen this picture before; the DJIA makes a new all time high along with the SP500 but without the Nasdaq 100 and the Russell 2000 making a new high, and no confirmation from the Dow Theory.

Financial Stocks To Watch

The market is waiting to see if the FED will taper or not from this week's FOMC meeting. Looking at some financial stocks, there appears to be a few that could be setting up to break to the upside, they are: GS, MS, JPM.

Stocks On The Move

FB formed a bull flag and moving toward its previous high. The measured move price target for FB is near 62.

AAPL Price Action Review (Update) – 12/15/2013

AAPL got near the 141% Fib extension then pulled back to test the 554/555 support.

NFLX Continues To Move Higher

Back in early December, I posted this about NFLX price actions that could be leading it toward the post ER high near the 390 region and that the price is trending within a rising price channel. It appears it is still moving toward the 390 region.

Homebuilder Building Up

The common wisdom is the rising interest rates from the anticipated FED tapering will cause a slow down to the housing recovery. This slow down will hamper the homebuilders’ earning prospects. But in defying the obvious, here is SPF, a homebuilder that appears to be setting up for a possible move to its 52 week high.

MGM Analysis – 12/10/13

MGM broke above a multi-year resistance near the 17 level in August and continue to move up to 20.98 before it started to pull back from this rising trend.

Good News Is No Longer Bad

After a good job report last Friday, the market took the good news and rallied. Many market participants were looking for the market to drop on a good job report as it will increase the probability for the Fed to taper. But as in most if not all instances that when the majority is leaning on one side, the market will go to the other.

Let’s Get Social

Here is a look at couple social media stocks, FB & TWTR.

After an extended run up from the July earnings report gap, FB pulled back and tested its IPO high of 45. It appears to be setting up for another run up to its previous high near the 54.80 level.

AAPL Price Action Review (Update) – 12/8/2013

Another illustration on how the market manipulates the price of AAPL during OpEx. Although AAPL did experienced a pull back on Friday, but AAPL's price trend remain to be up. The near term price target of 594 is still intact until it shows otherwise.

AAPL Price Action Review (Update) – 12/5/2013

AAPL got a bump on the news of a deal with China Mobile. As it got near the 576/579 resistance region that was discussed in the previous video, it faded back near the 565 level. Looking at the Open Interest for the weekly OpEx, it appears there is a good possibility it will get pin at 565 or 570. But the near term target remain to be the pivot high of 594 and the trend is still up.

AAPL Price Action Review (Update) – 12/3/2013

AAPL continues to move higher after a minor pullback through the 554/555 level. The price gapped up on the open due to some analyst upgrade, that voided the opportunity for AAPL longs to add or to initiate a position. There appears to be a confluence near the 576-579. Although the near term target is the pivot high near 594, this confluence level could pose some resistance, and maybe at that level AAPL could setup an opportunity for the sideline longs. In the meantime, for those that are long on AAPL, be sure to protect your gains.

Stocks To Watch - 12/1/2013

The market has been up for eight consecutive weeks and could experience a near term pull back. The potential pull back could present an opportunity to enter a swing long on some of these high beta stocks.

Nothing Has Changed

The market ventured into another record high territory on Thanksgiving eve. All the major market indices closed at record high territory with DJIA, SP500, DJT and Russell 2000 at new all time high, while the Nasdaq 100 at new multi-year high. Nothing has really changed.

AAPL Price Action Review (Update) – 12/1/2013

Ever since AAPL found support near 114 and reclaimed the 522 resistance/support level, it proceed to breakout the 529 pivot level and triggered a move toward the 554/555 level. On the day after Thanksgiving, an abbreviated trading session, AAPL broke through the 555 with little resistance. As the market resumes trading after the Thanksgiving holiday, it would not be a surprise if AAPL retrace back to retest the 555 level before it attempt a move toward the 594 region.