Today the markets continued powering higher with no sign of easing up... until the Apple quarterly earnings were announced after the close (generally accepted as a "miss"). I think it may be just the catalyst we need to instigate a pullback of a few percent. I sure hope we get it, because parabolic moves to the upside are usually met with parabolic moves to the downside.. hence the term parabola. I submit this picture as evidence:
The charts of the DJI, SPY, and QQQ (above) show almost no signs of weakness going into the close. However, after action trading is pretty ugly on the QQQ as a result of AAPL.
I hate to be a perma-bear, but I can't help it based on the information I have. I just hope that people chasing this trend don't get completely crushed.
GOOD LUCK TOMORROW!
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