A quick update on yesteday’s post.
The tech sector has sent the markets soaring. This, mixed with Standard & Poors downgrading “Uncle Sam” has also led to Gold and Silver continuing their parabolic climbs with no end in sight. In a sentence, if currencies are so devalued by debt, then the logical safe place is something tangible and scarce … Hello Gold!
More images in tomorrow’s main bulletin, but with reference to yesterday, the S&P has soared through resistance and the QQQ has gapped right up to its 1-month resistance at $58.
BIDU gapped again – earnings in a week for this Chinese search engine powerhouse. AAPL also made a big move in advance of its earnings today.
All in all a good day in the markets so far. For those of you who are members of the Private Traders Club, you’ll have had some fun with our CANSLIM filters which have found easy opportunities such as BIDU, IPGP, IRBT, LULU, MELI, SINA, and UA, all of which have recently broken out of flag type patterns.