By Harlan Pyan
The following is an excerpt from October 27th’s premium update at All About Trends. Enjoy a free 15 day trial to receive daily stock picks, market analysis, & complete trading plan. Promo code: zen.
In many U.S. cities it’s Halloween trick or treat time and yes Halloween parties which means? Bobbing for AAPLs. So the question as we go into AAPL’s earnings is? If you dunk your head into the barrel are you going to come up with an AAPL or not?
And that is the order of the markets AFTER the close Monday.
As we go into next week we are still where we were Friday- Chewing at the highs when viewing the index charts. Most names continue to whipsaw or still build out patterns we can work with here still though most needing chart time. As we start the week we have a kingpin announcing and that is Apple
As you can see it’s basically in no mans land here. If they pop it? The index will look like yet another higher high (More Ra Ra Ra for the media) as APPL is a tape painting stock and has a big impact on the indexes. If they slam it? Well then look where support is.
Either way it’s going to have an impact on the indexes.
As for the index charts?
All last week we said and still the order of the day:
“Again, expect whipsaws while the markets decide whether they are going to digest this move via time or price. We’ll keep looking for names with structure we don’t have to chase here for the time being and when we see names we are in give an opportunity to lock gains along the way we’ll use the whipsaw chop fest to do so over the coming days.”