Friday, July 29, 2011

Guesstimates on July 29, 2011

September S&P E-mini Futures: Today's day session range estimate is 1278-1296. I think the debt ceiling talks are much ado about nothing. The ES is likely to establish a low today and then begin a sustained rally. I expect to see the market above 1400 during the coming months.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300. Support is at 142.00.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1520.

SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 750 and above is underway.

Apple: Upside target is now 415.

Thursday, July 28, 2011

to 1285 then up




Here is an hourly bar chart showing 24 hour trading in the e-minis going back to the July 8 top at 1354.50.

I had thought that the July 18 low would hold but subsequent market action now has made a break below that level likely. If the drop from last Friday's high at 1347.75 equals the length of the initial drop from 1354.50 the market will make its low near 1285 (solid blue rectangles). The 1285 level is also on the lower trend channel I have drawn.

Meantime the rally from today's overnight low at 1295.75 will stop near 1315 if it equals the length of the last rally on the way down from 1347.75 (blue dash rectangles).

The drop below 1291 will look like a downside breakout. But as you can see from the middle chart (the 10 day moving average of advancing issues) the market is already very oversold. So I think that the ES will spend at most a day or so below 1291 before starting a strong rally.

The S&P 500 is still trading above its rising 200 day moving average (top chart). This mean that the presumption must be that a bull market is still in progress. I expect the next leg up to carry the market well above the 1400 level.

Guesstimates on July 28, 2011

September S&P E-mini Futures: Today's day session range estimate is 1290-1308. I think the debt ceiling talks are much ado about nothing. The ES will probably drop into the 1280-85 range and then begin a sustained rally. I expect to see the market above 1400 during the coming months.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300. Support is at 142.00.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1520.

SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 750 and above is underway.

Apple: Upside target is now 415.

Wednesday, July 27, 2011

Guesstimates on July 27, 2011

September S&P E-mini Futures: Today's day session range estimate is 1317-1330. I think the debt ceiling talks are much ado about nothing. A move to 1400 is underway.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1520.

SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 750 and above is underway.

Apple: Upside target is now 415.

Tuesday, July 26, 2011

Guesstimates on July 26, 2011

September S&P E-mini Futures: Today's day session range estimate is 1334-1347. I think the debt ceiling talks are much ado about nothing. A move to 1400 is underway.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 80.00.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: Resistance is at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 750 and above is underway.

Apple: Upside target is now 415.

Monday, July 25, 2011

Guesstimates on July 25, 2011

September S&P E-mini Futures: Today's day session range estimate is 1326-1341. I think the debt ceiling talks are much ado about nothing. A move to 1400 is underway.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above is underway.

Apple: Upside target is now 415.

Friday, July 22, 2011

Guesstimates on July 22, 2011

September S&P E-mini Futures: Today's day session range estimate is 1336-1350. A move to 1400 is underway.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above is underway.

Apple: Upside target is now 415.

Thursday, July 21, 2011

Two breakouts - point 20 - and wave 4

Here is a five point box, one box reversal chart showing e-mini trading going back to the May 2 top.

As you can see the market has formed a pair of bases, one in June and one during the past week. Today we have seen a high volume breakout from the second, higher base. Both bases show point and figure counts (dashed blue lines) projecting a move into the low 1400's. I have drawn a green dash trend channel which offers pretty much the same projection.

I think the low this past Monday was point 20 of the Domed House for you Lindsay fans. Adding 7 months, 10 days to the point 16 low on March 15 gives a projection of October 25 or so for point 23, the top of the domed house. As I mentioned in the post I just linked to, late October is also about the same time that Lindsay's 15 year period from low to high and his count from the middle section project bull market tops.

For you Elliott fans I offer the following observation. I think Monday's low ended a fourth wave triangle within a five wave move up from the March 2009 bear market low. Wave 1 carried the the S&P up about 550 points and ended in April 2010. Wave 3 started from the July 2010 low, carried the average up 365 points, and ended in February 2011. Given the Fibonacci progression thus far - 550 points, 340 points - I would anticipate that wave 5 would carry the S&P up about 220 points from the July 2011 low. This gives a target of 1515 for the bull market top.

Guesstimates on July 21, 2011

September S&P E-mini Futures: Today's day session range estimate is 1324-1339. I think that the short term trend is now upward. A move to 1400 is underway.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above is underway.

Apple: Upside target is now 415.

Wednesday, July 20, 2011

Guesstimates on July 20, 2011

September S&P E-mini Futures: Today's day session range estimate is 1322-1337. I think that the short term trend is now upward. A move to 1400 is underway.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above is underway.

Apple: Upside target is now 415.

Tuesday, July 19, 2011

euro trash

Here is my latest post on "The Art of Contrarian Trading".

Guesstimates on July 19, 2011

September S&P E-mini Futures: Today's day session range estimate is 1306-1321. I think yesterday's action was a shakeout below 1295 and that short term trend is now upward. A move to 1400 is underway.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: The drop below the June 15 low still looks like a shakeout. I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Monday, July 18, 2011

Guesstimates on July 18, 2011

September S&P E-mini Futures: Today's day session range estimate is 1295-1310. I think a move to 1400 is imminent.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: The drop below the June 15 low still looks like a shakeout. I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Friday, July 15, 2011

Guesstimates on July 15, 2011

September S&P E-mini Futures: Today's day session range estimate is 1306-1321. I think the move to 1400 and above will resume today.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: Yesterday's strength above 1.4110 makes the drop below the June 15 low look like a shakeout. I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Thursday, July 14, 2011

trading record update

I have just updated my paid blog trading record through June 30, 2011. You can find the details on the right hand side of this blog and the monthly summaries here.

comic relief

A little after Wednesday's close Moody's, the bond rating agency, issued a statement in which it warned that it might - just might - have to downgrade US government debt. On the news the E-mini S&P futures dropped more than 10 points in 5 minutes to a low of 1302.25. Do you hear the "Looney Tunes" theme in the background?

You will recall that Moody's is one of the rating agencies that assured the investing world that most mortgage-backed securities were of AAA quality when in fact they were junk. Now they hint that US government securities might be junk when in fact they are of AAA quality. What gives?

The simplest explanation is that Moody's and the other rating agencies are in Wall Street's pocket. Yesterday's announcement was timed to give Wall Street the chance to accumulate stocks sold by those who foolishly took Moody's warning seriously.

Let me be clear about one thing. The U.S. government CANNOT default on its debt. Why?

The U.S. debt is denominated in dollars. If the U.S. Treasury cannot redeem the debt by using tax revenue or by issuing more debt then holders of U.S. debt will simply sell their securities to the Federal Reserve. Moreover, if investors don't want to lend to the U.S. government for some bizarre reason the Fed will be happy to step into the breech. The result in both cases would be quantitative easing on a scale never seen before. This would be incredibly bullish for U.S. and world stock markets, at least in its early stages.

So don't let the bogey man of the failure of U.S. debt ceiling negotiations bother you. It is just a ploy by both Republicans and Democrats to grab more tax revenue. We can only hope this ploy fails.

Guesstimates on July 14, 2011

September S&P E-mini Futures: Today's day session range estimate is 1313-1330. I think the move to 1400 and above will resume today.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: Yesterday's strength above 1.4110 makes the drop below the June 15 low look like a shakeout. I think this market is now headed for 1.5300.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Upside target is 1630. Support is at 1485.

SLV - September Silver: This market is headed for resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Wednesday, July 13, 2011

domed house redux





Here is a daily bar chart showing the past 6 months of cash S&P 500 action.

George Lindsay often repeated his observation that triangles lasting more than three months almost always were part of a domed house formation. In my view we have seen a triangle evolve over the past five months with constituent swings outlined in purple on the chart above. I think the market is completing or has completed the last swing in the triangle. This point is point 20 of the domed house in the schematic you see at the top of this post.

In green and again in blue numbering I have delineated examples of what Lindsay liked to describe as minor versions of the 3 peaks and domed house formations. The significance of these two minor formations at this time is that they both have completed point 10 and so imply a rally ahead to new bull market highs. This is supporting evidence that the triangle is indeed the roof of the first story of a major domed house formation and that it will be resolved by and upside breakout.

The timing of point 23 is more problematic. In the major 3 peaks and a domed house formation point 14 occurred on August 25, 2010. Projecting forward 7 months and 10 days gives a predicted top for April 6, 2011. This is the top labeled by a blue 3 in the S&P chart above. This timing forecast is one reason that many people believe that the May 2 high was in fact point 23 of the major formation.

But I disagree with their analysis for four reasons. First, if May 2 was point 23 then the five reversals, points 15-20, were not present in the major formation. This happens on occasion and is not by itself reason for rejecting May 2 as point 23. But there are three other reasons for thinking point 23 still lies ahead of us.

First, Lindsay's 15 year, 3 month period from lows to highs started from the August 1996 low predicts a top late this year. Secondly, his count from the middle section from June 2006 to the March 2009 low is 33 months. Projecting forward this amount from the March 2009 low gives December 2011 as a likely bull market top. And third, Lindsay was not wedded to the 7 month, 10 day count from point 14 as a necessary condition for the completion of the domed house. Indeed, very few of his examples fit the schematic above exactly.

This suggests that point 23 will probably develop in the fourth quarter of this year.

How high might point 23 be?

The minimum expectation would be for a rally from point 20 which equals the size of the triangle - in this case the size of the rally from point 16 to point 17, 130 points or so. If point 20 is in place at 1312 this would imply that point 23 will develop near 1440 in the S&P. This latter level is the level of the May 2008 top and thus takes on added significance as a resistance point.

Once point 23 is in place these several 3 peaks, domed house formations have further implications. The subsequent drop from point 23 should at the very least carry the market back to or below point 10. In the major formation, point 10 is at the 1008 level in the S&P - the level of the July 2010 low. In the two minor formations point 10 is the June 16 low in the S&P at 1258. So from point 23 I would expect to see a first wave down to 1250 or so and the entire bear market carry the S&P down to 1000.

Guesstimates on July 13, 2011

September S&P E-mini Futures: Today's day session range estimate is 1311-1326. A sustained swing up to above the 1400 level is underway and I expect this rally to resume in earnest tomorrow or Friday. Meantime the market is likely to putting in several 10-20 points swings which is building the base for the upcoming rally.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think the market is headed for 1.3700. The euro has traded 50 pips above 140.60 resistance this morning. Any strength above 141.10 today would turn me bullish once more.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Tuesday, July 12, 2011

Guesstimates on July 12, 2011

September S&P E-mini Futures: Today's day session range estimate is 1303-1318. A sustained swing up to above the 1400 level is underway. The market is likely to put in several 10-20 points swings this week while making only a small amount of net upside progress.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I think the market is headed for 1.3700. Resistance is at 1.4060.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: A rally to 103-104 likely.

GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Monday, July 11, 2011

Guesstimates on July 11, 2011

September S&P E-mini Futures: Today's day session range estimate is 1318-1330. A sustained swing up to above the 1400 level is underway. The market is likely to put in several 10-20 points swings this week while making only a small amount of net upside progress.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: The euro broke below support at 1.4250 last night and I now think that it is heading for 1.3700.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: The market never made it down to the 87.00 target and subsequent strength no makes a rally to 103-104 likely.

GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Friday, July 08, 2011

Guesstimates on July 8, 2011

September S&P E-mini Futures: Today's day session range estimate is 1331-43. A sustained swing up to above the 1400 level is underway. The market is likely to put in several 10-20 points swings this week while making only a small amount of net upside progress.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I now think the market is headed up to 1.50. Support is at 1.4250

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: It looks like the trend is downward. Next target is 87.00.

GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Thursday, July 07, 2011

follow up



The top chart was posted last week. Since then the market has been even stronger than I had anticipated. The chart immediately above this post brings the top chart up to date.

As I said last week, I think the 1420 upside target associated with the point and figure count across the June base will prove to be too conservative. Indeed, pessimism was rampant at the June low and even more intense than it was at the July 2010 low. The market rallied 37% from the July 2010 low. Even half that percentage gain, 18% from the June 2011 low, would put the S&P at 1490. A full 37% up from the June low would put the S&P at 1715!

While I think that 1715 may be a tad optimistic, I do think a move above the 1500 level is quite likely before the next bear market sets in.

Guesstimates on July 7, 2011

September S&P E-mini Futures: Today's day session range estimate is 1338-52. A sustained swing up to above the 1400 level is underway. The market is likely to put in several 10-20 points swings this week while making only a small amount of net upside progress.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I now think the market is headed up to 1.50. Support is at 1.4250

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: It looks like the trend is downward. Next target is 87.00.

GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Wednesday, July 06, 2011

Guesstimates on July 6, 2011

September S&P E-mini Futures: Today's day session range estimate is 1325-36. A sustained swing up to above the 1400 level is underway. The market is likely to put in several 10-20 points swings this week while making only a small amount of net upside progress.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I now think the market is headed up to 1.50. Support is at 1.4250

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: It looks like the trend is downward. Next target is 87.00.

GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.

Tuesday, July 05, 2011

Guesstimates on July 5, 2011

September S&P E-mini Futures: Today's day session range estimate is 1325-42. A sustained swing up to above the 1400 level is underway. The market is likely to put in several 10-20 points swings this week while making only a small amount of net upside progress.

QQQ: Upside target is 63.00.

TYX (thirty year bond yield): The 30 year bond yield is on its way to 5.40%.

TNX (ten year note yield): The 10 year yield is headed for 4.50%.

Euro-US Dollar: I now think the market is headed up to 150.

Dollar-Yen: The market is headed down to 70.00. Resistance above the market is at 82.45.

August Crude: It looks like the trend is downward. Next target is 87.00.

GLD – August Gold: Gold appears on its way to new highs. Upside target is 1630. Support is at 1485.

SLV - September Silver: Support is at 32.00. This market is about to head upward to resistance at 41.00. Any strength above 43.00 would mean that the move will continue above 50.00.

Google: I think a move to 700 and above has begun.

Apple: APPL has reached support at 318 and now should begin a move to 430.