Tuesday, 26 November 2013

1pm update - AAPL trying to breakout

A little spike to the upside, and the main indexes are trying to break new highs. Apple (AAPL) is making a serious play to break the Oct' high of $536. Metals are weak, Gold -$6, Silver -0.7%. Oil -0.3%  VIX is weak, melting lower into the mid 12s.


AAPL, daily


*if APPL can break 536 - which I'm guessing it will, then next upside is the psy 550 level, but more likely 575/600 by year end.

Indeed, AAPL is a pretty good broader signal that the market will claw higher into January.

Bigger picture is indeed still very bullish. Sure, there will be little waves lower along the way, but I continue to think such moves are pointless to attempt to trade.

The miners continue to look..dire.

GDX headed for the mid teens...along with Gold 1050/950..and Silver 12/10.

1.37pm.. market looks very prone to a move down into the close..much like yesterday. Downside target is sp'1797..so..maybe a 10pt down swing. Nothing dramatic...but still. it'd at least help keep everyone awake.

AAPL $535..on the edge of breaking out.