Thursday, October 25, 2012

SPX & AAPL

SPX Daily
The bulls are putting up a fight in the afterhours S&P futures session to hold that 1400 SPX level. AAPL and AMZN earnings are seeing negative reactions so far, although both have come up quite a bit off their initial lows.

AAPL Daily
AAPL bulls are trying to hold the 600 level in the afterhours session. It's difficult to tell what the reaction will be tomorrow in the regular session, but so far it appears the bulls are making a stand.

Thursday Afternoon

MLNX Daily Chart (11:25AM)
Taking a look at one of Rev's SOTW picks from awhile back.  Nothing to get excited about in my opinion.  It looks to me as if it will be confined by the green and red lines for the time being.  There is a lot of volume that occurred just above the channel to keep it out of the gap and the bottom line has yet to be violated.  With the stock smack in the middle I don't see an edge and don't plan to trade it but news could change that.  I like their products very much.

Thursday morning