Monday, October 17, 2011

IBM and AAPL to shape the week

These two stocks are the heaviest weighted on DOW and NDX respectively.
Where they go so will the market in the next few days.
I am looking for profit taking in both, as it often happens after new highs are made.
SPX has a gap @ 1156 and NDX gap is @ 2203.
I am shooting for those gaps on this retracement.

DAX and EUR/USD started this market slide @ 4 am edt. Surprise, surprise, European leaders are pushing G20 nonsensical deadline threat aside, and making all kinds of remarks about needing more time. They will be playing the same song at G20 meeting in November

Update: Oct 17 @ 4:50 pm edt
IBM is down $7 afterhours on earnings report profit taking.
AAPL reports afterhours tomorrow.
Will there be the same reaction?


  1. Hi MV

    I saw your comment to Sean on ForexLive this morning calling for the Euro to begin 'the decline to 1.2150 with a stop at 1.2850 on the way'. Evidently Sean isn't an Elliottician judging by his response!

    Oh well, you and I will just have to enjoy the spoils of a short down the wave 5 of 3 to 1.2850 on our own.


    Paul Eamonn

  2. Hello Paul, nice to know someone else has the same outlook. Sean is cool, he has to stay balanced around the crowd and moderate bulls and bears in harmony. Euro just can not win here: recession and/or dilution will drive it down.