Monday, August 27, 2012

Not much happenin'

Apple was electric at the open but the sizzle wore off fairly quickly and the stock traded down for the rest of the session.  Still, it closed up nearly 2% so that's better than a poke in the eye with a sharp stick.

Volume for the SPY was barely 2/3 of the 10 day moving average and about half of the 50 day.  Probably not going to see much for the rest of the week either with many traders waiting on Ben.  Of course there is always Europe that alternates between saved and finished and China can move our markets if they move their reserve requirements.

Near Field Communications - NXPI

NXPI Daily Chart (11:40AM)
 
Those applications that allow check out by waving your smart phone at the register utilize near field communications.  NXPI makes the chips that support this capability.  The chart is a bit sloppy but price has been moving generally upward since June and you can draw support/resistance several ways.  I like it and jojo has been in and out and in.  It's looking good today.

Monday morning


At the time of this writing (9 p.m. Sunday), futures are up a bit, the Euro is flat, AUDJPY (my favorite measure of "risk") is ... meh.