by Ryan Mallory

It's been a while since the markets reacted so adversely to a moving average. 

Once that became readily obvious, the fact that we were able to push through that 20-day moving average, bodes very well for the stock market, not to mention the fact that the most recent version of the SharePlanner Reversal  Indicator indicates a very bullish proposition as well...

SPX and the 20-Day MA Chart.

by Ryan Mallory

I wouldn't say I'm a huge fan of the daily Apple chart, the weekly chart does look a whole heckuva lot better though.

With the daily you have a dilapidated inverse head and shoulders pattern that has lost its once delightful promise. But with the weekly, it looks much tighter and less conflicted. Also hidden on the weekly chart is that possible double top pattern that might be trying to form on the daily as well. 

Overall the weekly looks really solid: take a look.... 

by Ryan Mallory

Its obvious that lululemon (LULU) has taken a beating since Tuesday, after releasing their earnings report (another example as to why I don't hold through earnings), it has gone from trading in the mid-$80's all the way down to the mid-$60's. That's what they call down here in Florida, a "cold front". 

The stock is hovering currently at $66, and it needs to hold that level, or seen another leg down to $62 and possibly the lower $50's, which shareholders no doubt would hate to see. 

Here's the LULU technicals you need to know about.