We see Apple (AAPL) as pulling back to its 50-day moving average.
This would put it on par with the broader market, with the major indexes all hitting their 50-day MA marks, just as we figured.
AAPL isn’t likely to get much shinier in the public’s mind. A stock reaches a point when there’s no one left to buy it. Maybe we’re here now.
Zillow (Z) pops out of its base, albeit with a couple warning bars of Distribution in it’s handle, which just might not mean a thing if it doesn’t run into anymore heavy sellers.
That’s free range up there…
We’re getting multiple pullbacks to the 20-day moving averages for most major indexes and sectors.
This is the norm. What will be more interesting is if we get tests of the 50-day averages in this.
The Commodities Index ($CRB) is getting wasted as it trends below its major averages. Lower bids for this could mean less economic growth in the pipeline as fewer look to build and expand.
Growth Stock Zillow attempting to follow through on its breakout. Looking good…