Bo Yoder on S&P and AAPL

The S&P 500 (ETF Proxy – AMEX:SPY) Insiders continued to sell shares at a record rate, and finally we have seen a real correction in the S&P.  Many feel that this is a sustainable top, but our proprietary analysis process says that there is more bullish energy lurking just under the surface. We are forecasting that price will find support soon and push back up to the highs before the “real top” is put in.

SPY 5-15-16

Proctor & Gamble (NYSE:PG) has formed a lower high on it’s daily chart and is poised to begin a new downtrend with an initial profit target near the $79 per share area. PG 5-15-16

I keep getting emails asking about Apple (NASDAQ:AAPL) so I wanted to post a quick update.  You can see the forecast boxes where we called the top a while back.  Since that time, the bearish power has been building and last week the lows were broken after a breakaway gap pattern.  While the odds are not strong enough for us to be interested in taking primary risk, if short in AAPL we do have a liquidity zone that should be tested  in the $82-$74 per share before this bearish phase burns itself out.AAPL 5-15-16

Bo Yoder

RBJ Financial

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