Amazon Update

Amazon Update

Overhead resistance is firming up.  $AMZN was rejected at the 200 day moving average in late January.  Despite a high volume post earnings surge on January 31st the stock failed at the 200 day again.  We remain cautious in the near term.  A clear break below last...
Adobe Update

Adobe Update

Adobe is set up well for more upside.  Solid support is solidifying underneath.  Top layer of support is the January peak($250.70).  At the December lows the stock reached deeply oversold levels.  In late January $ADBE pierced a key overhead trendline that links the...
The Big Swing

The Big Swing

From one extreme to another.  Back on December 24th as the month long melt down accelerated, only 1% of all S&P 500 stocks were trading above their 50 day moving averages.  This equaled one of the most extreme oversold readings ever.  Fast forward to this week. ...