This may be what the NQ is waiting for before it pulls back by any significant amount, as I discussed in my February 9th post.
Friday, February 10, 2012
The AAPL of Nasdaq's Eye
AAPL is one of a very few Nasdaq stocks in the green, so far, today. At the moment, it's trading at the +2 deviation of an uptrending regression channel following a large volume spike on yesterday's price action, as shown on the Daily chart below. As it approaches the 500 level, the indicators are pointing to an overbought situation...price may ultimately revert to the channel "mean."
This may be what the NQ is waiting for before it pulls back by any significant amount, as I discussed in my February 9th post.
This may be what the NQ is waiting for before it pulls back by any significant amount, as I discussed in my February 9th post.