Market Overview

Stock Scan Observations


By Jeff Pierce

Strong emerging markets indicate stability around the world which means the US markets could continue to rally. This has moved up slowly and is not overbought at all.

If I had a large long position I'd be looking to unload as this chart is all but saying it's about to pull back.

Today's move could be a sign that AAPL has topped. Let's see how it responds to support, indicated by the previous 2012 top. This is another stock I'd be a seller of, but not a shorter. There is a big difference in those trading stances. You don't short strength, but at some time it's smart to take money off the table.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Trading Ideas


Related Articles

View Comments and Join the Discussion!