Engineering AAPL’s Breakout

The big news yesterday was AAPL’s market cap reaching $1 trillion.  For chartists, however, the big story was the breakout shown below. It’s hard to overstate the importance of this move.  Just a few days ago, the stock had broken below a trend line dating back to April 27 and was retreating from its 2.24 … continue reading →

Facebook’s Faceplant

$20 billion here, $20 billion there.  Pretty soon you’re talking real money. Maybe Zuck should have accelerated his sales a bit more. Facebook’s disastrous conference call and outlook has seen the stock plummet 25% from its earlier highs.Note that this brings FB back below: (1) the trend line which has buoyed it since April 4; … continue reading →

Is Market Integrity Even a Thing Anymore?

Want to know where markets are going?  Just check Facebook.  The stock, that is. As I pointed out in March [see: Facebook Flops] the stock is a very reliable indicator of overall market direction.  And, right now, it’s threatening new all-time highs. But, its accomplishment raises an important question: does it matter how the stock … continue reading →

Update on Gold: Apr 11, 2018

In our last major update [see: Jan 26 Update] we noted that gold, 1355 at the time, had reached the same price level at which it had frequently reversed.  Even though we’d had a bullseye at 1377-1380 for over a year, it had stopped short several times. GC is sitting just below the neckline of … continue reading →

The Market’s Latest “Lucky” Bounce

That’s a relief!  For months, pundits have been arguing whether the Fed needed to hike interest rates three times or four times this year — you know, because of all the growth coming down the pike. Fed Über-Dove and “Man Who Thinks Market Integrity is Overrated” Jim Bullard just announced that the correct number is … continue reading →

Update on COMP: Mar 20, 2018

Facebook is only 5.5% of the Nasdaq Composite (COMP), but yesterday’s plunge [see: Facebook Flops] was a good reminder to update our outlook. In our last update [see: Nov 6, 2017 Update] we identified 7619.37 as our next upside target. At this point, it’s pushing into the top quadrant of the rising white channel where … continue reading →