Despite achieving blowout numbers, AAPL was unable to provide enough catalyst to lift the markets yesterday. The market condition scans are showing that institutional investors have moved to the sidelines, providing little fuel for the markets to continue to move up. The market bias indicators are supporting this, with a neutral reading.
So far, this has been a rather lacklustre earnings season, with little energy to entice investors and traders into the marketplace.
The US Dollar showed some strength yesterday against the Canadian Dollar which pulled back to about 95 cents US. Canadian stocks inter-listed on the US exchanges moved up slightly due to this, but all markets were essentially flat yesterday.
| Index | Change | %Change | Level | Phase |
| TSX | -0.27 | 0.0% | 11538.12 | Bullish |
| DJIA | -50.71 | -0.50% | 10041.40 | Bullish |
| Nasdaq | -12.85 | -0.59% | 2163.47 | Bullish |
| SP 500 | -6.85 | -0.62% | 1091.06 | Bullish |
| Russell 2000 | -8.93 | -1.43% | 613.41 | Bullish |
| NYSE | -63.94 | -0.89% | 7158.27 | Bullish |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a positive to neutral bias
Energy: weak
Primary Trend: sideways to up
| Sector | Phase |
| Consumer Staples | Bullish |
| Healthcare | Bullish |
| Technology | Bullish |
| Utilities | Bullish |
| Energy | Bullish |
| Financials | Bullish |
| Industrials | Bullish |
| Materials | Bullish |
| Consumer Discretionary | Bullish |
Source: Telechart
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