Markets are still bullish both in terms of patterns and OVI, which means that’s the way you must play them.
The S&P powers on with a muted OVI, having just broken its own recent and long term highs last week.
AAPL still looking very sorry for itself. Don’t be surprised if new lows are made. Downtrend, bear flag and persistently negative OVI.
BIDU has fallen from grace. From here it either falls through support, or starts to make a base.
Citicorp has punched through its resistance and the OVI remains consistently positive. Other financial stocks have looked pretty good too.
GOOG ominously powering on with a new bull flag and decent OVI … only for those with a head for heights.
HPQ forming a bull flag and good positive OVI.
I’ve been enthusiastic on MCD for a while now, and indeed it’s punched through resistance with a multi-month positive OVI. Thursday was the most recent breakout point, and on Friday it gapped up.
PCLN is forming a bull flag (cup and handle), consistently positive OVI and looks poised for a breakout.
PSX has barely paused for breath since its debut. Positive OVI for many months and another bull flag forming.
YHOO forming another bull flag with a very positive OVI …
All the best
Guy