From what I see after looking at futures, 3C, Leading indicators, industry groups, breadth, and specific stocks, I think the AAPL/PCLN scenario are both good proxies for the overall market. Short term or intraday day consolidation which is really building a short term reversal and that reversal should be sold in to or shorted in to.
You saw PCLN and AAPL and how they were pointing that way, now check out the market update charts next...
Charts to follow, but I wanted this out ASAP.
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