Gartner Inc

Not So Simple After Apple Buyquake Powers Market Through Failed Test – The Market Breadth

Apple buyquake: Apple Inc (AAPL) broke out above its 50DMA and jumped 6% post-earnings results on a $110B share buyback.

Stock Market Commentary In the prior week a post-earnings pricequake from Meta Platforms (META) dominated the stock market headlines. Last week, an Apple buyquake dominated the headlines and week-ending trading after the company announced a record $110B buyback. The subsequent gain in AAPL turned my simple test dividing bearish and bullish trading action into a … Read more

The Fed Further Stretched Overbought Conditions – The Market Breadth

stretch (credit: Lynn Friedman on Flickr)

Stock Market Commentary For traders like myself who follow market cycles from extreme fear to extreme euphoria, last week’s trading action was astonishing. The stock market was already well overbought and stretched going into Wednesday’s Federal Reserve meeting. Yet, buyers STILL managed to go into extreme stretch mode. The Federal Reserve essentially declared the death … Read more