Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, January 16, 2013

Prop-o-rama Snooze Fest Continues

Stock Market Technical Analysis Blog

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In the market today we added another day of sideways propping as the VIX continued its tap dance  along the red market overbought line.  AAPL, however, did get the bottom bounce off of the technicals I discussed in last night's blog for a $20 gain today.  Whether or not this is THE bottom  in AAPL won't likely be determined until next week's earnings when we see if all the pessimism over its declining stats are reflected in its quarterly earnings report.  It's reasonable to expect this morning's bottom to hold at least until then. 


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