Squeeze setups in KLAC and AAPL
The Nasdaq 100 e-minis (aka noodles)
broke through the 1710 to form daily trend reversals. The upside sits
at 1738 on the daily upper Bollinger bands. Ironically, a lot of tier 1 leader
stocks have been sell fading into the noodles moves.
KLAC and AAPL have been very weak into the overall market
rally. Would keep an eye on both stocks if the market maintains above 1710 on
pullbacks for a laggard move up. KLAC specifically has a key 50 period daily
moving average resistance at 50.60 with a solid 60 min 15 period ma support at
50.20. A break through 50.80 x 51 would trigger the 60 minute pups with upside
to 51.25 on the 60 min upper Bollinger bands and 52 x 52.50 daily upper
Bollinger bands.
The Nasdaq 100 e-minis (aka noodles) broke through the 1710 to
form daily trend reversals. The upside sits at 1738 on the daily upper Bollinger
bands. Ironically, a lot of tier 1 leader stocks have been sell fading into the
noodles moves.
(
KLAC |
Quote |
Chart |
News |
PowerRating) and
(
AAPL |
Quote |
Chart |
News |
PowerRating) have been very weak into the overall
market rally. Would keep an eye on both stocks if the market maintains above
1710 on pullbacks for a laggard move up. KLAC has a key 50 period daily moving
average resistance at 50.60 with a solid 60 min 15 period ma support at 50.20. A
break through 50.80 x 51 would trigger the 60 minute pups with upside to 52 x
52.50 daily upper Bollinger bands.
AAPL 73.50 is the daily 5 period moving average support, watch
for a 60 min stochastics cross back up through 74.80 for ramps back up to the
daily upper Bollinger bands at 75.50. Also MacWorld starts on January 9th, 2006
so watch for ramps into that.
When the market is strong, always look for laggards which is
like paying wholesale instead of top price retail. Good trading gang!
Jea Yu
Jea
Yu has been involved with the equities markets for over 10-years. He specializes
with intraday trading in the U.S. equities and futures markets. To receive a
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