Monday, 19 November 2012

11am update - up into the 1400s

Market is stronger than I had expected, clearly..the multi-week decline is complete. A very strong 1-2 week bounce is now underway, and is likely to level out around 1400/25 by end of November. Bears should be careful not to get sucked into any micro down waves. Near term trend is UP.




So..we're headed what many were looking for...a 'holiday reversal'.

It looks like we will see 1400 hit this week, and 1410/25, early next week.

At that point, I'm VERY confident we'll get stuck in the low 1400s.  The only issue is how long do we churn sideways before we fall like a rock.

Right now.. Monday Dec'3rd looks 'interesting' for the bears ;)

AAPL seeing something of a short-squeeze...

First target is there is a very likely $40 yet to go.