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1. Perfect Bullish Percent-R Retest Yesterday
4/2/2009 1:08 PM EDT
Yesterday's S&P 500 close gave us a very nice confirmed bullish Percent-R retest on the daily chart. It also had a successful test of key middle levels on the hourly chart. If you are using charting software, we utilize different inputs, levels and techniques on our Percent R analysis than are the defaults on most programs -- BigTrends founder Price Headley and others in our firm have developed methods for smoothing out and utilizing the Williams Percent R that are not really being used by anyone else that I'm aware of. And the nice thing about this indicator is that it can often be a "leading indicator" as opposed to a lagging one, which is basically the "holy grail" of most technical analysis.
2. Apple Hitting Six-Month HighsDavid Sterman
4/2/2009 11:45 AM EDT You have to go back to September (which seems quite long ago) for the last time Apple (AAPL - Get Report) was above $112. The stock is getting lifted by an analyst upgrade today. You can also see some sector strength in the list of stocks hitting new 52-week highs today, including: