Today was a Bear's dream as everything pretty much sold off. You could pick any sector to look at as the oil/commodoties/equities trades continue to unwind. In short the global growth theory is no more or at least on an extended pause.
The Technology sector shows what can happen when patterns fail. The QQQQ, AAPL, CSCO, GOOG, & MSFT exemplify how the Bulls are facing an uphill battle of resistance.
Let's be real clear: there will be bounces along the way down to test the July lows, but those levels will be tested eventually.
AAPL is set to announce something on September 9 and here a a couple links to what it could be:
http://www.appleinsider.com/articles/08/09/04/apple_looks_to_take_multi_touch_beyond_the_touch_screen.html
http://www.ilounge.com/index.php/news/comments/ipod-nano-4g-touch-2g-dimensions-revealed/
No comments:
Post a Comment