The S&P 500 (ETF Proxy – AMEX:SPY) is forming a lower high as we forecast last week. Monday will be a critical session as a trend day to the downside will confirm the bears are back in control of the market, and would act as a good trigger for short-side exposure.
Timken Roller Bearing (NYSE:TKR) formed a higher low this week, and I would expect to see price test the amended profit zone near $33 per share as the odds increase for a double top to form.
APPLE Inc, (NASDAQ:AAPL) has been stuck in a daily range after getting pummeled in August. It has rallied without the bullish energy needed for a sustainable rally, and our forecast is for the stock to turn lower as a lower high or double top forms.
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