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Stock Market Video Analysis for Week Ending 8/22/14

ETFclose08222014

It was another great week for equities, I hope you participated in the upside. The video below takes a look at key levels in the major ETFs and individual stocks such as $AAPL and $TWTR

I was on Yahoo Finance with my friend Phil Pearlman on August 22, the links below are to the subjects we spoke about including some stock trading ideas in $ZLTQ and $CROX We also spoke about stock market trends in the $SPY

This Bull Market Isn’t Dead Yet $SPY
Biotech and Twitter ‘stretched’? Why Yellen is wrong $IBB $TWTR
Fat zapping laser is a real thing and this chartist is bullish on the stock $ZLTQ
Crocs are ugly but the stock is looking good $CROX

If you missed it, this

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Please Don’t Call It A Double Top in the S&P 500

It seems like every time the market approaches a previous level of resistance the “double top” callers come out in force. There is nothing wrong with correctly identifying this reversal pattern, the problem is that a double top has not formed in the $SPY. Look below at the chart of RedHat ($RHT) this stock formed a true double top earlier this year and the points on the chart are explained below so you can corrrectly recognize what a double top is.

2topRHT

A- The stock rallies up to find resistance near 60 and then sells off to

B- The low of this pullback near 54 is the low end of the emerging pattern, the stock then rallies to

C- The second peak occurs in the same general area, it can

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