The Dow Is at a Record High, but Institutions Are Selling
Read More : Microsoft at 52-week High: What’s the Fuss?
Apparently, someone forgot to tell the market that Microsoft Corporation (NASDAQ/MSFT) was a dead investment and not worth buying.
Following a lackluster launch of its “Surface” tablet and “Windows 8” operating system, Microsoft quietly moved to a new 52-week high of $32.84 last Thursday.
Click here to visit : Momentum Is Great—If You Are on the Right End
Apple Inc. (NASDAQ/AAPL) finally broke below $400.00 last Thursday, an occurrence that I recently discussed in Investment Contrarians. As I said, the short term will generate volatility for the stock, but I continue to believe there is still hope the company can turn around going forward.
Technology Sector at the Bottom of the Pack: Time to Give Up on These Stocks?
Apple Has Not Lost Its Shine, Whisper Numbers Coming in Above Consensus
AAPL Elliott Wave Technical Analysis - 11th March, 2013
Last analysis expected price to move lower with an increase in momentum. This is not what has happened. Price moved higher past the first invalidation point on the hourly chart, but has remained below the second invalidation point and within the parallel channel on the daily chart.
The wave count is mostly the same. I am still expecting that an increase in downwards momentum with new lows is likely over the next few days for Apple.
Click on the charts below to enlarge.