It stays to be seen whether or not there can be a follow-through on Friday’s tech wreck. Many of the tech shares had gone vertical on their every day charts they usually merely fell again to help. It stays to be seen whether or not Friday was the beginning of one thing extra significant. A very good instance is AAPL. This weekly chart exhibits that AAPL has closed above its 10 week common (blue dotted line) for 27 straight weeks. On Friday, AAPL closed proper above its 10 week common. A weekly shut under its 10 week common can be an indication of technical weak spot for me. On the opposite hand, it will have to shut under its 30 week common (pink line) for me to conclude that its longer term up-trend is over.
The GMI is 6 (of 6) however the extra delicate GMI2 has weakened to four (of eight).
- GMI: 6/6
- GMI-2: four/eight
- T2108: 59%
SOURCE: Wishing Wealth Blog – Read whole story here.