As expected, with upside follow through in Asia/EU markets, the US is seeing further gains... into the 1960s.
There will be resistance in the 1960s today.
Best guess... opening gains maxing out by 11am... and then cooling into the afternoon... forming a baby bull flag... with further upside into the Friday close.
*I see a threat of a sig' decline on Monday... into end month... but that will likely NOT be a key turn for the next big wave lower.
AAPL +2.2% in the 112s
NFLX +3.1% in the 113s
TSLA +2.0% in the 229s
Overnight Asia action
Japan, the Nikkei +1.1% @ 18574. Gains, but nothing spectacular.
China, again, the Shanghai comp' opened higher above the 3K threshold, but then turned lower (intra low 2906). There was a late afternoon hyper-ramp, settling +5.3% @ 3083. Even the mainstream are agreed... no doubt the Chinese Govt' - via PBOC (or their agents) were heavily buying stocks.
My plan for today
I am long-AAPL, seeking an early exit in the 112/113s... will try to buy back in the afternoon, maybe $1-2 lower... if possible.
Without question, I have ZERO interest in attempting any market short positions, probably until mid Sept'.
Have a good Thursday
8.23am.. Indexes cooling a little from earlier highs, sp +15pts... 1955.
AAPL +1.5% in the $111.30s. I've a stop at 112.. so if we open here... I get kicked at the open.
8.31am.. GDP (first rev'): 3.7% vs 2.3% prior. A massive jump... and very good for the US macro-econ bulls.
Indexes .. battle upward.. sp +20pts.. 1960
time to shop... back soon
9.06am.. sp +25pts... 1965...
AAPL +2.2% in the $112.10s... so.. right now.. I'll not get kicked at the open. Hmm
I am suspicious of an intraday down wave of 10/15pts lower... not least as the smaller 5/15min cycles are already very high.. and will be VERY over-stretched at the open.
9.31am.. EXITED AAPL-long.. from 111.90s.
Very pleased with my exit.
Black-fail candle on AAPL..... and confirms my initial concern about an opening reversal.
9.36am Initial high of sp'1967.... might go up into 11am... but really... this is over-stretched... having ramped from 1867.
Oh... and that makes for a clear 100pts..... 5% since the Tuesday close.
9.39am... AAPL, 15min