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AAPL bottomed perfectly

Monday, 26 September 2011 09:20

If you subscribe to the Daily Pivot report than you are aware of the support level on AAPL at $391 that was highlighted on Thursdays report. Well today was that test and it handled it great. The 20 day SMA was the right number, there were other data points to support it and the low was within 30 cents, not bad for a stock of that price.

I see a number of stocks that tested good levels today and held up, BIDU, AMZN and SNDK to name three. I am not ready to think the market will push to new highs now but it seems that for the near term buying pullbacks is the way to go. 1175 and then 1200 on the S&P are my next resistance levels.

I am very proud of the way the methodology is working basically providing wonderful support and resistance levels and helping me to read this market with near perfection. I am also proud of the way my current crop of students are navigating a volatile market as I read the success stories it makes me feel great that the education is getting through.

To my students that are performing well, keep it up and stay the course and stay in the moment. For those that are not having the success they desire, work harder and find the information that will make the difference and let the other students be your inspiration.