Stock Market Technical Analysis Blog
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In the market today the tractor program was turned back on at the open causing the indexes to trade slightly upward in a very narrow tube channel. This tractor program ran until the Nasdaq & AAPL hit resistance.
- Looking at the upper left corner 120min chart of the Nasdaq we see that it rose until it hit resistance and turned back over at the underside of the lower line of its blue channel.
- In the lower left corner 120min chart of AAPL we see that it also hit resistance at the underside of the lower line of its red channel.
This week could be choppy as the indexes are at a major pivot point right now.
Trade well my friends
Alan
