Tuesday, January 24, 2012
There is no evidence other than extreme sentiment readings that an end to the rally is near. Momentum remains positive, and AAPL's results will only help tomorrow. It looks like the Qs could very well reach the next target zone around 63+/- before a top is seen, which could take another 2 to 4 weeks. This is consistent with the lag from extreme sentiment readings seen in the past. Traders should be mindful of sudden reversals and trail stops appropriately.
Posted by Trader Craig at 6:22 PM