Maybe it is just me or there is a lot of noise, but it seems like a lot is going on in the market this week. Throw in all the market data, government proposed policies, and overall market news, it can be a lot to take in; however, sometimes it could be a good thing as bad stories can slip under the rug.
Anyways, I thought I’d look at a couple stock and index charts and see where they stand today. Granted a lot happened in the after-hours, so there could be a lot of gap ups/downs in the coming days.
Apple (AAPL) – The stock had a double top and came crashing down. Excluding after-hours earnings boost, Apple closed below 50 MA. Given the earnings and Wednesday’s showcase I think it will close above the 50 MA soon enough, but I think there is still ambiguity among investors whether this information is already priced into the stock.
VMware (VMW) – The company still reported a loss, but it was better than expected. The stock is also gaining steam as a possible takeover target. I wouldn’t expect much movement here, but anything above $41 is in play.
US Dollar (USD) – The dollar has made good strides in 2010, but once again got rejected by the resistance.
Crude Oil - 2010 hasn’t been good to crude oil; however, it looks like it could have bounced off the support, which should be positive for the long-term picture of oil.
Amazon (AMZN) – After closing 2009 pretty strong, this stock has gone straight down. None of the technical indicators look well for this stock, and Apple’s tablet doesn’t look to help Amazon and their kindle.
Want a second opinion? Send me your stock questions.