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All human fate rests, it seems, on what AMZN and AAPL do after the close. I don’t have positions in either of these. Apple, for one thing, is utterly inscrutable to me. I mean, just look at the past year and a half of its trading. There’s no pattern. No bottom. No top. It’s just meandering along listlessly, going up and down without any rhyme or reason. So my prediction: no clue!
I posted the chart below on my personal twitter yesterday morning with the comment that a retracement was likely and that a possible rally high was being made.
I was looking at the perfect hit of the ideal possible rising wedge resistance trendline for this move and the very large amount of negative divergence on the hourly and 15 minute charts.
A higher high was then made that overthrew the wedge slightly and improved the hourly negative divergence further, and since then we have seen a modest retracement which looks likely to go further.
(more…)As you’re surely aware by now, the most widely-followed earnings report after the close on Wednesday was Facebook (umm, Meta), and they’re getting destroyed after hours. I first gained awareness of “The Facebook” years before most people, since their first real office was literally one block from my own in Palo Alto. Many times I would see Zuck walking around the streets, talking to employees one-on-one or, occasionally, jogging. I even remember their chalkboard sign propped up on the sidewalk encouraging applicants to come in to get a job at TheFacebook.com. Little did any of us know that it would (briefly) be a trillion dollar company. Here are some thoughts I have on the matter………..
The stock has already had a wretched year before today, but they’re getting torched by another 20% after hours (and what idiot jumped in immediately after the close and paid $142 for this thing, hoping to get in cheaply?)
Euphemistically speaking, what a glorious year this is for year-end charts. Much fun it is to have a yearly tell of what is going on. Here are three issues whose charts (yesterday’s!) help portend their future.
Quarterly and monthly charts of the big burrito [CMG] are green.
In case anyone needing convincing that, in recent days, just about everything with a ticker symbol has been zipping higher, they need look no farther than crypto, which only two weeks ago looked like it was tumble into oblivion and has instead become red hot once more. The now-permabullish ZH has been singing Bitcoin’s praises (and trotted out yet another buy-everything article this morning).
