The market is nearing being overbought, something we haven’t seen since February. You can see what happened the last time we hit a max oversold RSI in February. This is a very powerful set up this time, all the moving averages are sloping up and I don’t see anything to be bearish about, the TGA refill narrative hasn’t mattered to this point.
Today’s move higher into the Apple reveal is remarkable. Apple hit new all time highs before the event. Then again, I don’t get how Apple is up 50% this year on declining revenue, but it is. Look at this chart below, Apple has seen 5 red weekly candles this entire year. While it may be overdone, you can’t short stocks breaking out to all time highs, that’s reckless. So we will have to see what comes of this reveal.
Trends
Apple,Cameco, and Amazon continue to dominate these trends and they’ve really been performing well. SLB is emerging as a hot name over the last week, I have few trades to note on it below today as well. PANW was added to the S&P and is up 5% today.
1 Week
2 Week
1 Month
Today’s Unusual Activity & What Stood Out
108 Trades Today
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