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All human fate rests, it seems, on what AMZN and AAPL do after the close. I don’t have positions in either of these. Apple, for one thing, is utterly inscrutable to me. I mean, just look at the past year and a half of its trading. There’s no pattern. No bottom. No top. It’s just meandering along listlessly, going up and down without any rhyme or reason. So my prediction: no clue!
It looks like Robinhood (HOOD) might be preparing for a bullish breakout
I posted the chart below on my personal twitter yesterday morning with the comment that a retracement was likely and that a possible rally high was being made.
I was looking at the perfect hit of the ideal possible rising wedge resistance trendline for this move and the very large amount of negative divergence on the hourly and 15 minute charts.
A higher high was then made that overthrew the wedge slightly and improved the hourly negative divergence further, and since then we have seen a modest retracement which looks likely to go further.
(more…)Caterpillar (CAT) announced earnings before the open, and the stock is blasting higher. Kindly note its relationship to the intermediate-term trendline. This may be the whole of the move.
The advance GDP number just came out, and not only was it positive, but it was better than expected. So I guess the recession’s called off, right?
