Off the Charts
The market finished in positive territory Thursday ahead of tomorrow's jobs number. The Nasdaq was the strongest, gaining 0.52%, thanks in large part to Apple's (AAPL) potent negative to positive reversal. The stock was down about 3% again today following yesterday's harsh sell-off, but bounced hard to close the day up 1.57%.
Besides the fireworks with AAPL, it was a fairly lackluster day after the morning reversal. Stocks pushed higher in the first hour of the day and then momentum petered out over the rest of the session. The S&P (SPY) is holding up well since Monday's reversal as it digests above 1400. A good jobs number tomorrow could propel the S&P above 1420. There are some decent chart patterns setting up so be patient and ready to react when they trigger....568 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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