Are we beginning to peak again

After a nice run the market is beginning to stall again with some of my charts indicating that it is finding it hard to move further up. Having said that though the short term trend is up but I notice weak bars in my MACD below and my stochastic looks like it could come down from here- it is right at the top. See chart on the SP-500 here.

The QQQ,s are right up at resistance from where it was last March and again it is finding it hard to move up over the last few days. It is beginning to move in to the 10 day MA or indeed it may fall back. The stochastic is showing weakness but the money stream is still strong. The long term trend is up so it will be interesting to see if it can break this major resistance level. Chart here

Gold (GLD) continues to move lower as the market climbs.

Cisco (CSCO) has come back in to touch the 10 day MA. It will be interesting to see if it can move up from here. If the market pulls back then expect Cisco be be affected also

Avon (AVP) has surprised me and moved up ever so slightly above the most recent resistance line. Money stream is weak but it is trying to cross. It is surprising me it does not do a double bottom at least. It could still do one but perhaps not. Chart here

Staples (SPLS) is behaving as I thought. It is back to test the $11 level. With the red selling going on and the negative money stream it would surprise me if it holds here. Be prepared that it may go lower to test the lows of mid 2012 of $10.70 or so. Chart here

Apple (AAPL) has had a great run and it is beginning to pull back again. It could see $600 again. Some nice support there.The sudden change on the chart is news related- you can read all about it on google.

I was away for the weekend in West Cork -hence the day late with the blog. I was forced to leave the computer at home- you know the story. I have a class next Saturday in the Planet in Cork on the Introductory Seminar and the same in the Clarion in Dublin on 14th. All 10am starts finishing at 1pm. They are free to you or your friends. The free the is just €10 to new people

More again tomorrow. Pat