Stock Market Technical Analysis Blog
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In the market today we had a big up day as the orange/brown lines of the lift setup we have been watching the past week began its lift (top chart of upper cluster). Looking at the lower chart of the top cluster, we see that the S&P has plenty of room to run with the boys obviously wanting to take it back up to the 8/2 S&P 1710 peak. In the lower chart cluster bottom chart, AAPL gapped up today starting its lift also, from the layup setup of the red and black moving averages.
All in all, a really nice start to take us back up but be aware that they did take the Advance/Decline to the rafters by the close today and with this much movement in one day, the bears will be aware that tomorrow will likely be their only chance to trip up this rally using the market breath pullback that is likely tomorrow. After tomorrow, if the bears have no luck in reversing today's lift, they will likely end up having to cover their shorts the following days.
Trade well my friends
Alan
