Thursday, October 18, 2012

Tech Breakdown and Apple Inc. AAPL Update







Large cap tech titans such as IBM, INTC, GOOG have missed earnings estimates and tech stocks have underperformed the broader markets. As depicted on the second chart, NQ futures are broken and have observed the daily ambush short as resistance.  Next target for the NQ is 2675. The ES and YM are holding their extension longs. Will tech bring down the broader markets?  If so, expect a much larger correction.

AAPL has tested $623.55 twice.  A break of this level brings us to the next target as depicted on the above chart.

2 comments:

2fe1288e-133c-11e2-b18d-000bcdcb5194 said...

Wow, we are approaching your /NQ target... S$P seems to be in a channel with a support at 1425. We could bounce back...

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