AAPL - Apple was able to do something it hasnt done since Feb. 5th. That is to close above its 8ma. Ive been talking alot recently about how important this moving avg has been for AAPL and today the fact it was able to close above is very key and overall bullish. The only down side to the nice upmove today and is the fact today is day 3 of 3 making green closes. AAPL hasnt been able to make multi-day runs with mouch power ever since topping out in the 700s. However I do think tomorrow we head higher and potential hit the 21ma which is around 447. Its rumored to get some pretty important news so make sure you are actively monitoring for that.
ARNA - Back on watch tonight because I think the daily ranges on ARNA might start to open up again. Today we closed above a little resistance pt around 8.50 and closed near the highs. Support is at 8.45ish so our risk is pretty low and for resistance I see some at 9.50 which is the top of this channel but if volume starts to kick up there is a strong chance we break the channel and visit the Jan highs of 10.50
SPY - Just something to watch. Obviously this market is very strong as its moving into all-time highs so dont think I am ignoring the strength. However SPY has been up 9 of past 10 days and one day it closed red it was only by roughly .01% . One thing I noticed is SPY has yet break the prior days lows on a intra-day basis (on 3/1 it opened lower so that wasnt an intraday break) since this amazing green streak has begun. So I will wait for that to change to perhaps start a new short position.
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