AAPL breaks out–T2108 near peak? Tech up-trend looks strong.


The market closed strong on Friday, as AAPL broke out to a new high.   Technology is where the action is right now.   However, one caution flag is that the T2108 is now at 81%, very near to being in overbought territory.   Last May, the T2108 reached a peak at 92%.   Meanwhile, the GMI

remains at the maximum of 6 and the GMI-R, at 10.   The QQQQ and SPY have now closed back above their 10 week averages, a critical sign of   strength.   There were 527 new highs in my universe of 4,000 stocks on Friday, the largest number since January 11. 89% of the NASDAQ 100 stocks closed with their MACD above their signal lines. This looks like a good time to ride the new short term up-trend in tech stocks, which completed its 11th day on Friday.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.