FCX held 50 today -- keep this important stock on screen as tell to see if it can hold 50 in the next few days. Next support 48.
AAPL sliced right through trend-line but bounced on the 50SMA. First touch since September/2010. If the 50SMA fails, next support is 325.
Daytrader Talk: very classic move here as SPY gapped down, bounced hard until it hit the 20EMA. Market lost momentum and down it was again -- very good risk/ reward short strategy on descending EMA (and for longs of course ascending EMA) if stock has travelled a good distance to hit it (and as such is extended). Entry would be against EMA with stop on high above. If you want to go long then wait until EMA flattens out and stock overtakes EMA but never buy against descending EMA.
