Posted by Blain 21 May 2012

Market Recap - Rebound Begins, Education Tips, Apple and Facebook Updates

Friday the market set its bottom as it traded massive volume and found critical support, and today the rebound kicked off with the NASDAQ adding 2.46% and the S&P 500 1.6%.

What's great about days like today is that technical analysis shines. Tonight I am going to let the charts do all of the talking. Newer investors take note, some great notes lie below.

And lastly here is a look at Facebook's (FB) first two days price action using a 10 minute char with MarketSmith,

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Comments

  1. Posted by manish on May 21, 2012 at 8:41 pm

    Stocks Jumping into Final Hour on Euro Bounce, More Tech Sector Optimism, Short-Covering, Bargain-Hunting..

  2. Posted by manish on May 21, 2012 at 8:43 pm

    blain.....pcyc is highly Speculative Growth stock and this stock hold high during this correction and today up almost 10% and broke out 29.50 buy point in heavy trade....fundamental are not great..so it's very risky stock? but chart look great....

  3. Posted by Jack Burns on May 22, 2012 at 7:33 am

    Good comments Blain - I sincerely hope you're right about being at the bottom. Please say HI to you Dad.
    Jack Burns

  4. Posted by Blain on May 22, 2012 at 9:28 am

    The PCYC break higher yesterday was powerful, tricky stock considering the initial breakout and collapse back in the base. Probably caught a lot of investors off guard. This is a Zanger highlight at the moment.

    RE Jack, thanks! If it is a legitimate bottom we will need to see it retested first :)