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Markets were mixed today, with the Nasdaq falling quite hard follwoing AAPL’s miss last night. The S&P 500 eked out a very fractional gain, but did encounter trouble at the big round 1500 handle. Breakouts do continue to happen each and everyday it seems, and today brought cup with handle breakouts from PCAR THO, with pivots of 47.26 and 41.80 respectively. AZN rose past a 49.37 flat base trigger, and AVT took out a 33.58 double bottom pivot. TUP received volume confirmation today on yesterdays 67.92 flat base breakout pivot. I am starting to get mixed signals about this bull run, but my opinion means little. Remember its the tape that is omnipotent, and now we are ultimately judged. But although we continue to see a multitude of breakouts, more and more reversals are occurring. Today PAG turned back after taking out a 32.46 cup with handle trigger. ASH backed off after briefly running past a 86.76 3 week tight trigger. Leaders LMT ALK QIHU all had bearish outside reversals today. But we can not ignore the very benign action in the trannies. IYT is up 14 of the last 17 days, and volume the last 6 sessions has been monstrous. UPS had volume confirmation on its 80.63 flat base trigger it took out Tuesday. JBHT screamed higher by 7%. To sum up on a lighter note, HRL took out a 35.00 3 week tight trigger on limp trade. Is this market spammed?Sign Up to Continue Reading