Hardware Pushes Tech Higher:
Albeit very marginally Tuesday to start the holiday-shortened week. The Nasdaq rose less than .1% and for the second time in the last 4 sessions recorded a doji candle. These are adept at signaling potential changes in the prevailing trend. Although I have found bearish candles have not been good at forecasting turnarounds in this formidable bull. The target still remains the very round 16000 number. AAPL of course, had a lot to do with that as the world’s largest company continues to pull away from the bull flag pivot of 150 and we know the best breakouts tend to work right away. Its peers in the hardware group are acting very well too making it a group to keep an eye on (DELL has been an exception). Names that have gapped higher after earnings recently include SCSC PSTG and NTAP. SCSC is looking at s possible EIGHTH consecutive WEEKLY gain. Below is another name that looks interesting as it attempts to build the right side of a WEEKLY cup base.