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Tuesday 22 October 2013

Stock Market Analysis

NFP was worse than expected but unemployment claims slightly better by 0.1%
TIC Long-Term Purchases also worse than expected

The stock market is overbought, too high & a pullback would be healthy, although investors might still buy as bad economic news will further delay QE tapering
S&P 500 possible resistance @ 1750

Apple will host a media event at 1pm EDT today, which it is expected to announce new iPads
Apple's not really moving based on supports or resistances for now but might continue to go up because of the hype

Netflix broke record & jumped to 389 after earnings report yesterday
It only dropped to 387 after bad economic news
390 might become resistance for now

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