Hello traders and MarketClub members! It's April and this is when we're going to see just how well many of America's major corporations fared in the first quarter. At the moment, the market needs some stimulus to move higher and good earnings could provide the jolt that is needed to push it to new highs.
The market appears to be trapped in a broad trading range and that is largely reflected with the Trade Triangle technology which is indicating a sidelines position at the moment in all the major indices.
Today, I will be following up on my "Is This Apple's Secret Or One Amazing Coincidence?" post to see whether it is still on track. There are a couple of major dates for Apple this month, one is April 10th, when Apple begins accepting orders for its new smart watch and April 27th, when Apple announces its earnings for Q1. The general consensus is that Apple will earn $2.13 per share. A move in Apple this week over $129.25 will turn the intermediate term Trade Triangle positive, indicating a positive trend for this stock. I would not be surprised if this took place as early as this Friday or early next week. I will keep you updated with an Apple alert. Continue reading "All Eyes On Apple"