Several indicators are pointing to a bounce in SPX: * it's well outside of its bollinger band * RSI is just under 40 - usually we see a bounce at this level * The last candle ran away from the 8-day EMA The attraction of the bounce will be 8-day EMA. It's entirely possible that this bounce will be sold by the end of the session. Still, that's at least 25 point...
Depending on whether or not today was the last day of correction in SPX, this could be the last day of correction in AAPL. You might not get a better opportunity before we hit 125.
Looks like it will hit new ATH in the second half of 2015.
Update 12-4: Ok, we have a falling knife situation here. But this will be a grand buying opportunity when the ruble stops imploding. Update 12-2: I have to say that given the circumstances YNDX is holding remarkably well. USDRUB is 54, Russia RTS is down 3% today! YDNX is a great Russian company, dominating the internet search market in the Former Soviet Union....
It really looks like 107.23 could be a new bottom. Added long.
Broke down on high volume. 20 day moving average turning down. NFLX now seems to be stuck in a downtrend.
Next week will be crucial for AMZN. It needs to clear the descending triangle, on Friday it fell just short. Otherwise, it's headed down to low 300s. It might even retest 284. Considering that the next couple of weeks will likely see a pullback in the market, my short-term bias is bearish.