Fun Fact #36
Since Amazon surged after-hours today on a huge earnings beat, why don’t we look at Bezo’s dog? Damn, that is one cute puppers.
I’ve removed my three targets on the major indexes because I realized having them there made no sense until after earnings season is done. I did think we would bounce, but not this hard. My portfolio aint complaining 🙂
Amazon and Intel surged after hours. We will look at their charts after tomorrow’s close. Microsoft also beat earnings, and is up a decent amount after hours (2-3%). Also, Chipotle managed to go up nearly 25% after good earnings yesterday.
Let’s look at the daily chart of Chipotle below.
Notice the strength of today’s move. Not only did Chipotle (CMG) gap up, but also moved up another 30 dollars on the day. Additionally, CMG closed near the day’s high, displaying further strength.
Here’s CMG on the weekly time frame. Although I rarely trade with the RSI (Relative Strength Index), I did observe that when Chipotle reaches or nears the overbought RSI reading on the weekly chart, it tends to drop significantly.
I will add CMG onto the watchlist tomorrow, along with AMD.
QQQ ran up past the 162 overhead resistance today, and then closed a penny below 162. However, QQQ closed after-hours at 164.20, which I circled in the chart above.
Have a great day!