I deleted that saturday Broadcom post after doing a bit re-search for I didn´t find reasons enough for the cake. However attatched some tired charts, one of them is also IBM and very similar one´s are Wallmart and Exxon Mobile but no extreme divergences available either, it is more like "momentum has left the building" issue, techically..
I think IBM is might heading to test SMA200.
ROK, MA and COST I keep as shorting candidates while MSFT, MRVL and AAPL still as long side meaning I still believe best behaviour index is NDX if anything while Dow might be even slightly bearish and SPX in the middle denies to make significant movements. It is standing at the undirectional crossroad, perhaps waiting whetever new QE will come or not.
9 Issues I can disclose.
- Bullish with MRVL, MSFT and AAPL
- Bearish with COST, ROK and MA
- Small fifth up for Oil Futures with Hourly chart.
- Best Index is NDX
- Worse Index is Dow
- SPX something between, potentially shortterm toppy.
- Europe, not directional edge available
- Small bounce for UNG
- Perhaps very small zigzag bounce in Euro after five wave down done while 1.20 could be seen during the spring and possible even slightly more or perhaps I should say should be seen if looking weekly Macd for it.
About everything else or most of the equities, I do not see much directional edge or even interest to keep looking any because I think it is very much waiting game which might mean sideways action mostly. Once and if it solves significantly some week or even month it will bring out the issues what market have with equities if there is even any exist with EW.
Many European based equities has started to suggest longer term sideways pattern building which hopefully is not the case because it would bring us for very undirectional market for long time.
Have a succesfull week.