Short and longer term trends remain up.
Dr. Wish
Market, AAPL finally weaken–a little
AAPL had a high volume reversal on Wednesday and the Worden T2108 indicator started to decline. Perhaps we will now get the post earnings release lull and consolidation? Given the strong up-trend in place, I would be surprised to see a major decline. In Leferve’s classic book (listed to lower right) about the greatest stock market speculator ever, Jesse Livermore, is the following wise quote:
“The trend has been established before the news is published, and in bull markets bear items are ignored and bull news exaggerated, and vice versa.”
I would suggest that in the current bull move, the financial events in Europe will not have as great a negative impact as they had last year when the market was often in a decline phase with the GMI below 3.
34th day of QQQ short term up-trend; AAPL continues to rocket higher
My internal market indicators show some weakening, but thus far it has not paid to guess tops. As long as the GMI buy signal from 12/23 remains in place I will stay long. I remain 100% invested long in mutual funds in my university pension. Meanwhile this daily chart of AAPL shows that is has gone into a vertical climb. Click on chart to enlarge.
