I rarely put much weight on analyzing individual stocks but I do have six stocks that I look at maybe once a day just because they tell a story. Yesterday’s action for them was not particularly bullish.
Here are my comments individually.
GS, Goldman Sachs is an example of a fallen financial stock, it rallied yesterday but is in a steep overall decline.
CAT, Caterpillar rallied also but is still under the 200 day average and the 200 day average is declining.
CSCO, Cisco in the short run looks best but it is really just bouncing from a 18 month decline.
MCD, McDonalds, made a new all time high and closed below the low of the four previous days.
AAPL, Apple rallied but could not make new highs and appears to be making a head and shoulders top with the head being a double top, not encouraging.
GE, General Electric rallied also and is continuing to run out its bounce from the 2009 low and the bounce appears to possibly be putting in a head and shoulders top also.
When it is all said and done, more sideways rather than bull market remains the story in stocks.