Double top in the down channel on the spy.
You can see where the downchannel created by the gap was broken, and an upchannel to try to fill the gap was started. The big gap down isn't likely to fill today. Turnaround Tuesday is almost over, so I'm looking for a pop overnight. Strength in AAPL, TIF, LGF, SOHU SPRD, SCO POT CLNE CHS WMB, NTAP.
Scary? not for me. my iPad 1 is still in my drawer.....
The chart was edited to include the fib retracement information. Should have included it because we know we have an 83% chance of hitting the first retracement line....
Getting old, it seems.
Anyway, check out PCLN, AAPL,QCOM, and VTR. The revenue stocks continue to do well. No pullback for them.
So I will expect a pop in the AM to fill the gap. Keep us in the horizontal trend trading range.