Home > Market Set Up > Stock trading: the market this week

Stock trading: the market this week

The NASDAQ was the only major indice to break out to the upside last week. It was obviously pushed higher by AAPL and the I Phone. A careful look at the Dow and The S&P will tell you they are making lower highs. Both are making a wide choppy topping pattern over the last two months. On the surface this would be distribution, we will know for sure if we see some big cap stocks breaking down with significant volume.

I say on the surface because we are in a confirmed uptrend on virtually every chart. No one knows whether it is distribution or just a pause, be patient and let the market tip its hand, not need to guess. Earnings season starts tonight with Alcoa (AA), lets see if it leads the next push.

http://keystonetradinggroup.com/

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Categories: Market Set Up
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