Apple Down; Miners Performing Well
Warren Bevan | Oct 26, 2016 12:14AM ET
"Men of action are favored by the goddess of good luck." – Richest Man in Babylon
We’re still seeing lots of choppy action and with Apple Inc (NASDAQ:AAPL) down a bit tonight we may see that continue until later in the week when we see some more big players report numbers.
We’ve got more heavy hitters like Amazon.com Inc (NASDAQ:AMZN), Chipotle Mexican Grill Inc (NYSE:CMG), Visa Inc (NYSE:V), Mastercard Inc (NYSE:MA), and Alphabet Inc (NASDAQ:GOOGL) reporting this week as well as many more so good number should take use higher, of course, the opposite is also true, so we wait and see.
Miners are doing well though, and although I did stop out of my VanEck Vectors Gold Miners (NYSE:GDX), Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT) and Silver Wheaton Corp (NYSE:SLW) positions Monday at cost. I got a new buy signal later in the day so I was back in, and remain in after today's solid action.
SPDR S&P 500 (NYSE:SPY) has a lot going on including the very bearish large head and shoulders pattern.
Until we either move above 216, or move under the 213.50 area there won’t be much to talk about in terms of this chart.
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