Markets up few points today grinding slowly higher with AAPL taking a big hit AAPL earnings afterhours awesome , but most of the gains is already included so its most likely a sell the news event. Overall I called the move in markets right that we should get a last push up here Tuesday , and I think we are very close to a major top ( or at least a correction comming ). I was looking for QQQQ to reach 57.22 , we got 57.21 , very close and the SMH got a bit below 35 which I has been looking for before a big drop. Everything is moving as it shoud and I expect tomorrow a Neutral opening/little gap up , but after all the QQQQ reached target and the SMH reached a long term trendline, looks at charts. So overall we may just flush down hard here, we have clearly 5 waves up from bottom so that is also fulfilled. BUT again we may also move sideways/up until option expiration friday. Overall my technical signals is still on BUY and thats why until now we can still expect markets to move to 1300-1303 short term until we see otherwise. Just telling all that we are at some VERY interesting points now , could also be a massive HS in forming and a huge rising bearish wedge in markets since the bottom this summer. Overall I wont get ANY bearish technical signals until SPX breaks below 1280, so for the most strict traders out there - wait markets out until SPX breaks support 1280 area, if we see a break below 1280 near term, thats the first big SELL signal that the trend has changed. Overall we could see easy below 1280 if we get a nice flush after these interesting targets met, but trend remains UP until proven otherwise. But I am expecting a little gap up tomorrow or neutral opening and then flush down. Time will tell...
Have a nice day !
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