The S&P 500 (ETF Proxy – AMEX:SPY) is still struggling near last week’s highs as it attempts to form a lower high on its daily chart. The longer this fails to turn and follow through, the higher the odds that we will spike up to take out the 52 week highs for a double top or false breakout.
Timken Roller Bearing (NYSE:TKR) formed a higher low last week and has been grinding higher on low levels of power. I was hoping that we would have seen a test of the $33 level by now, and the lack of bullish enthusiasm makes me think that exiting and taking the profits currently available is the best course of action at this point.
APPLE Inc, (NASDAQ:AAPL) has been waffling back and forth right at the lower edge of the red zone, and looks like it is simply waiting for a catalyst to take price lower. If this stock can’t turn lower by the end of next week than I would consider a scratch for whatever profits are available.
To learn more about 3D Apex Predictive Failure Technology™, the engine that drives these forecasts, please visit http://themarketdoctor.com or for our latest public service announcements visit https://plus.google.com/+
Bo Yoder Bio:
Bo Yoder is a two time author, professional career trader, author, and consultant to the financial industry on matters of market analysis, trading and risk management.
He has an MBA from The Boston University School of Management
Bo has been a featured speaker internationally at industry expos and has developed a reputation for the ability to trade live in front of an audience as a real-time example of what it is like to trade for a living, using a real money account.
During his focus on trading in real-time, he simultaneously talks the audience through his thinking, analysis, and a moment by moment walk-through of what is evolving and the actions he’s taking until his trade has resolved.
In addition to his two books for McGraw-Hill, Mastering Futures Trading, and Optimize Your Trading Edge (translated into German and Japanese), Bo has written articles published in top publications such as TheStreet.com, Technical Analysis of Stocks & Commodities, Trader’s, Active Trader Magazine and Forbes to name a few.
An active trader since 1997, Bo came out of retirement to partner with the creator of 3D Apex Predictive Failure Technology™, Roger Khoury in 2011 and is now the Head Trader and portfolio manager for a boutique private money management firm, RBJ Financial Group
Be the first to comment on "Bo Yoder’s S&P Analysis"