The word "overbought" should be on your mind right now .....
By that I mean most market indices.
Let's quickly look at the usual suspects
Apple Computer Inc ( AAPL ) ; if you take the break out level (with a gap) at the $215, you should now expect a sideway channel "above $220". Apple is now trading at $236, traders should consider booking profits.
Bank Of America Corp ( BAC ) ; resistance level is quite clear at the $18 levels, price spread (with its 50 days exp MA) is quite high, pull back expected.
Citigroup Inc ( C ) ; got stopped on this one ....
International Business Machines ( IBM ) ; not able to break above the Jan highs, divergence in techs ?
Powershares DB US Dollar Bullish index (UUP) ; same story, still long, uptrend intact
0 comments:
Post a Comment