Morning Market Update with TBUZ TV

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“A diamond is a piece of coal that stuck to the job.” – Michael Larsen


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Market Editorial - Chuck Crow

This Week’s Stocks

AAPL rallied up to a high of 214.56 on Thursday, but dropped in the afternoon to close at 205.25.  The expected resistance in this stock was at 212.94.  So it broke resistance and then dropped.  The new expected resistance for AAPL is now at 214.56, but it might be some time before they can recover.

CVX continued moving down on Wednesday to 134.14, but managed to not make a new low on Thursday.  Thursday’s high was 137.95.  CVX has stayed away, and even moved away from major resistance at 147.47.

XOM, like CVX moved lower on Wednesday, down to 104.15.  Thursday’s low was at 104.27, and this stock has not been able to climb to resistance at 110.83.

Observation

ES futures began this week at 5544.00.  They were not able to get back to the open of April before the end of the day on Wednesday, and they opened May at 5617.50.  The market was able to rally on Thursday, however the rally was not sustained and ES futures opened trading for Friday’s trade at 5608.50.  Already in overnight trading the market has moved above the open of the 2nd quarter at 5644.25.  If this market can hang on to the overnight gains then not only will we finish this week with a positive gain, it could also head into the weekend up for the quarter and the month.  The major point of resistance to watch in the ES futures is the April high at 5773.25.

News for the Week






Probabilities for the Week




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