Posted by: stockscooter | April 10, 2012

What’s Keeping the Market Up?

Is there anything I really need to say about these 3 stocks:Priceline, Amazon, and Apple?  It would seem obvious to the casual observer that these securities are saying something meaningful.  These are long-term charts of over a decade.  Could these huge capitalization stocks be the reason the markets are being supported since the year 2000, and moreover, since 2009?  5 wave structures abound in these 3 stocks.  They all are in what appears to be terminal phases.  Look at Apple.  My first-to-turn strength indicator(circled in light blue) is screaming for an immediate top this month.  Seems like this is low risk shorting area, because even if it goes up further against your position, it would come back down to this level eventually.  You would need to be able to wait it out.  But, why not wait until it turns?  There will be plenty of money to be made without the additional risks of going in early.  We are talking a ballistic, parabolic move that won’t be able to keep it’s momentum.  When the price turns, it won’t find it’s inertia again for years.  This analyst says the probabilities are for a turn as early as this month.  The broad markets seem to know it and are selling-off, already.

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