Tuesday Evening

NFLX and BWLD are getting hammered.... BRCM getting some upside. AAPL on tap for 430pm release... so if you need a bathroom break, you've got 15min lol.

SPX Daily

Now that the AAPL news has been released, I wanted to take a look at the SPX daily chart and see where we stand. You can see the high volume zone from 1355-1375 has increased in size from a few weeks ago.... which should make it more difficult for the bulls to overcome going forward. I think of it as a large group of traders & investors that are hangin' out up there anxious to get their money back. It definitely looks like it'll be tough resistance for the day sessions in the days/weeks ahead. We know the tendency for the markets to gap above or below support/resistance levels using the futures at night though, so I'm trying to keep that in mind as a possibility too.

1310-1320 is the next high volume zone below, and S&P futures are currently indicating an open on SPX of about 1326ish. The 50day on SPX is at about 1332, and the bottom BB is about 1320. With a few short term indicators suggesting we are ripe for a bounce, if we gap down into that 1310-1320 area in the morning, I'm expecting the bulls to step up. The big test is going to be what kind of bounce they produce.... if any at all. If they close it above the 50day at 1330ish, I think that's a "win" considering it (the 50day) is starting to flatten out. It's not all gumdrops and lollipops of course, but depending on the daily S&P futures volume (likely to be high), it would be a start.

If we close below that 1310-1320 zone on SPX, the 1257ish level is back on the table as a possibility. Looking at a few things tonight like the action in the Euro/Dollar, Gold and some other longer timeframe indicators, I think we have pretty decent odds the bulls will try to hold it together. That can all get tossed out the window though with one good whack tomorrow. Stay on your toes... and trade safe.

Gold Futures (Aug) Daily

I wanted to throw in a daily chart of Gold at the bottom here considering it's an evening thread and the length isn't an issue compared to the more actively refreshed day threads. Anyway, I mentioned I would follow up on this triangle pattern... and you can see we are getting into an even more narrow range now. No signals yet... but we are getting closer to a decision point for sure.

Tuesday Afternoon

AAPL 5 minute chart from late Friday - 11:28AM today

As info, today's support/pivot/resistance numbers are:

S1-3  574.20  580.96   592.39 

PP 599.15

R1-3  610.58   617.34   628.77     

Tuesday Morning

It's all about AAPL today ...

This is a picture of the Apple 1 on display at the Museum of American History in Washington, D.C.  It had a whopping 8KB of random access memory (RAM) that was spread across 16 chips.   That was for the top of the line machine.  The standard model only had 4KB RAM and cost $666.66.

You did not get all of the gear in the picture for your $666.66.  You had to supply a keyboard and video monitor.

How much memory does it take?

To store a book (text):

1 page -> 70 characters per line x 40 lines per page (you must include spaces and marks)
2800 characters (bytes per page) -> 2.8 KB ~ 3 KB per page
a book with 500 pages -> 3KB x 500 = 1500KB = 1.5 MB

Bottom line: With no compression technology available yet the original Apple 1 standard model could store less than a page and a half of text in its memory.