Nasdaq close today went unnoticed by all technicians,CNBC & other pundits.....
Nasdaq closed @ 1885.03...previous recent highest close was 1879.92.....
I am glad "nobody cares about a technical breakout" ????
I am sure they are all "busy rehashing things which is NOT important"
What happened to Art Cashin famous "dreadful head & shoulder pattern" & market collapse by 17th which is tomorrow????
If this IS the picture of "dreadful & collapse"..I will take it anyday......
NO...the markets are NOT overbought.....it has more room to run based on ER & positive momentum......
So.... it is Friday the Option Expiry.....which will bring its own "usual manipulation by MM to cover their bad bets".....nothing more.....
GOOG ER was a beat on both Sales & EPS...BUT there must be a "whisper number created by select few with $$$ to play with...GOOG down $14.62 on a small 250,628 shares AH ????
IBM was a beat on EPS but a MISS on Sales..but guiding higher than consensus..it is UP $1.98 on
1.99 million shares AH...
GOOG reaction AH is very subjective while IBM is based on improving business momentum.....
C,BAC,GE will report Friday...which MAY not be a CRITICAL snapshot as some of them are still struggling with "balance sheet issues"......so do NOT read too much into it.....
AH Futures are RED.....
AH Gold, Silver are UP...
AH Nikkei is UP .58%
BLOG does NOT give buy or sell.
Saleem
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