Friday, December 25, 2009

Not sure about the rest of the Tech Sector but AAPL is doing just fine

...for now

AAPL -new high
rev= 190.47; mid= 199.76

Recent low was 78.20 on 1/20/09.
Using fibonacci we see that AAPL had resistance at the 1.618% of 204.73. It tested that level for five weeks before finally closing above it this week. Next fibonacci level is 2.058% at 239.14 and 2.618% at 282.93.

Chart of AAPL:

Thursday, December 24, 2009

Weekly 3LB Update for week ending 12/24/09

Weekly 3LB Update (for week ending 12/24/09)
a new weekly high or low will change the reversal price and the midpoint

SPX -new high
rev= 1093.48; mid= 1109.98
Chart of SPX:

Dow Jones -new high
rev= 10318.16; mid= 10419.13

Nasdaq Comp -new high also closed above weekly 233sma
rev= 2167.88; mid= 2226.79
Chart of Nasdaq Comp:

DXY -no change
rev= 75.28; mid= 76.52
Chart of DXY:

Gold -no change (still trading below mid. almost had a weekly reversal)
rev= 1095.70; mid= 1134.95
Chart of Gold:
see chart from 12/11/09

10 Year -no change (getting close to reversal)
trend=no; direction=down (2 bars)
rev= 38.62; mid= 35.37

30 Year -weekly reversal
trend=no; direction=up
rev= 40.11; mid= 43.49
Chart of TYX:

SLV -no change (still trading below mid)
rev= 16.50; mid= 17.36

BAC -no change (trading below mid...again and again and again)
rev= 17.46; mid= 16.02

AXP -new high (finally broke through to new highs)
rev= 37.21; mid= 39.45

AMZN -new high
rev= 126.20; mid= 132.34
Chart of AMZN:

M -no change (had a weekly reversal but still needs a confirmation week. Still not confirmed after 3 weeks)
trend=no; direction=down (1 bar)
rev= 19.82; mid= 17.90

VIX -new low (weekly reversal 3 weeks ago. had confirmation this week)
trend=no; direction=down (1 bar after 2 weeks)
rev= 30.69; mid= 25.08
Chart of VIX:

XLF -no change (still trading below mid)
trend=no; direction=down (1 bar for 9 weeks)
rev= 15.24; mid=14.65

BKX -no change (still trading below mid)
trend=no; direction=down (1 bar for 9 weeks)
rev= 47.69, mid= 44.96

WTI Crude Oil -no change (Bullish piercing on last weeks candle. confirmed this week)
rev= 68.44; mid= 74.47
Chart of WTI:

Powershares USD Bull (UUP) -new high (looks like congestion. rally may have run out of steam.)
trend=no; direction=up
rev=22.26; mid=22.65
Chart of UUP:

Goldman Sachs (had a weekly reversal 4 weeks ago. finally confirmed last week. will it trend this week? so far no.)
trend=no; direction=down
rev= 189.30; mid= 176.10
Chart of GS:
see chart from 12/18/09