Tuesday, July 20, 2010

Market Has Strong Bid Today

Dip buyers are working in earnest today... I assume anticipating the blowout Apple (AAPL) earnings tonight.  If there is any company that won't "sell on the news" it will be Apple but even this 'general' has a chart that is looking in trouble.

IBM has also reversed nicely after opening below its 200 day moving average. 

It's a choppy market - same message repeated - until we clear out below 1040 or above 1100 on the S&P 500 there is no clear path.  Just randomness.  We are smack dab in the middle of that range.


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