The market seems to want to go somewhere right now and we’re now in the full swing of earnings season. AMZN and AAPL are looking interesting again as they break through and approach key resistances again with positive OVI readings.
Also the SPY has broken into positive OVI territory for the first time since July and so far it’s holding while also on the point of breaking its August highs, albeit on modest volume. Do bear in mind this could about-turn at any time, particularly with earnings season upon us, however, my gut feeling is that the markets will rise in the short term and then fall in the medium term.
GOOG released earnings on Friday and once again outperformed estimates, sending the stock soaring $30. I get the feeling that AAPL and AMZN are set to impress as well.
SPY
PTC members may have noticed I’ve swapped some stocks around within the 10-minute OVI stocks. This is to freshen up the list with stocks that are currently exhibiting more responsive OVI readings. Remember you can pop the charts out but clicking on the top left icon (shaded in purple below).
If you’re going to trade during earnings season, you MUST check to see if your stock is reporting at time you’re considering your trade. For earnings news there are two links:
http://finance.yahoo.com/q/ce?s=AAPL+Company+Events
http://www.earnings.com/company.asp?client=cb&ticker=aapl (scroll down to the Earnings Releases header bar)
More soon
Guy
