QCOM, OJ is doing well today, we have taken out the 25 days MA, now if we have two closes above 76 we will head to 79..
Look at this SPC we need to break 1516 now and move on to 1527 to break the old high, this is the most important area of resistance to break old high we would need every help from big companies to sustain this move forward, this is a very broad move and for that to be appreciated you don't need to be a rocket scientest, look at SPC making a new high after nearly four months of that old high and the formation is explosive if you fully look at the wedge..
Now if we need to break the old highs we need this NDX to get above 4145 a little over our 4060-70 point, also Comp need to get going towards 4460-4500 target but the push has to come from NDX and I think MSFT earnings tomorrow will decide if this move will be coming our way, most probably it would as IIX is now solidly upward moving, with QCOMs and LU block volumes I would assume that smart moeny is positioning itself into right kind of stocks, short of problems from MSFT I see no reason why we should not move forward considering that previous move was more narrow as when we had hit 1527 NDX was 4700 and Comp had hit on 3/27 5008, we have some room on the upside pending right earnings looking at netwroking annoucements I see no reason to worry.. fwiw |
