How Apple Can Stay Special After Earnings


Apple (AAPL) had a solid earnings report across the board and gave time to buy after hours around $194-$196. It cleared that and is at $198+ this morning.

I trimmed some but will stay with some. We'll see if the momentum stays.

To keep it special, it has to stay above $196.

Facebook (FB) has a huge hole in its chart post-earnings. On Monday, it broke $173 to hit a low of $166.56. Yesterday, it held above the low and I got long. Today, I'll see if it holds $170ish for one more push above $174.24. But it's hard to add on strength.

QQQ held the 50 day Monday for an oversold bounce. Now we need to see if it builds. Bigger resistance is in the $178.50 area. Watch AAPL to see if it holds and builds, or sells down -- that will tell us a lot about sentiment.