The Bull Market Lives
by JDH on August 12, 2017
Last week I pondered the question: Will Amazon Predict the Market Top? Presumably if AMZN, a high flyer this year, gets into trouble, that could be it for the market. This week Amazon touched $996, but couldn’t break through the $1,000 level, and by Friday traded as low, intra-day, as $951.38.
That’s not a great recipe for a continuation of the bull market.
However, Amazon did touch $930 back on June 9, so this is not yet an epic collapse. Time will tell.
Apple, on the other hand, is looking great, hitting a new high in the $160 range earlier this month before correcting slightly. If I was a betting man, I would bet on a new high for Apple before the end of the month.
But, I’m not a betting man, and at these levels I have no desire to be the last man standing in a game of financial musical chairs, so I will watch from the sidelines.
Plus, it’s summer, so enjoy it.
If anything happens to change this vague analysis, I will report back next week.
The Bull Market Lives
by JDH on August 12, 2017
Last week I pondered the question: Will Amazon Predict the Market Top? Presumably if AMZN, a high flyer this year, gets into trouble, that could be it for the market. This week Amazon touched $996, but couldn’t break through the $1,000 level, and by Friday traded as low, intra-day, as $951.38.
That’s not a great recipe for a continuation of the bull market.
However, Amazon did touch $930 back on June 9, so this is not yet an epic collapse. Time will tell.
Apple, on the other hand, is looking great, hitting a new high in the $160 range earlier this month before correcting slightly. If I was a betting man, I would bet on a new high for Apple before the end of the month.
But, I’m not a betting man, and at these levels I have no desire to be the last man standing in a game of financial musical chairs, so I will watch from the sidelines.
Plus, it’s summer, so enjoy it.
If anything happens to change this vague analysis, I will report back next week.