Home > Apple Trading Strategies, Stock Market Strategy > WALL STREET CRAPS STOCK MARKET OBSERVATIONS FOR JUNE 30, 2013


June 29th, 2013

MARKET OBSERVATIONS FOR July 10, 2013: The stock market reached a short-term bottom last Monday morning. Normally, one would expect a retest of that bottom in about 5 to 7 days. Therefore, we would expect some weakness on Monday and/or Tuesday as that retest. We had 3 days up from the bottom and can anticipate an equal 3 days down in this simple time symmetry. But the Summation Index clearly shows that we have already arrived at an intermediate term bottom and that smart traders/investors should get on-board for another bull run that will climb the proverbial “wall of worry.”

Key market indicators show the following:

For now, my advice is to buy into any weakness at the beginning of the week. Active broad-based exchange-traded funds to consider buying would include DIA, SPY, QQQ, SSO.


The indicators for Apple (AAPL) read as follows:

  • Relative Strength Indicator = 26 (buy signal under 30)
  • Ultimate Indicator = 33 (buy signal under 30 which it was on Thursday’s close)
  • Money Flow Indicator = 6 (buy signal under 20)

This means that the stock of Apple is now in a buy zone and time to start accumulating. While it would appear that a test of the previous lows around 383 can be expected, we’ve learned to expect the unexpected when it comes to this stock. With a 3% dividend, an investor will get paid to wait on this unpredictable stock.

Be Sociable, Share!
Comments are closed.