GOOG/AAPL/Nasdaq

This has been a tough couple of weeks for the markets. The sentiments out there don't seem to be very positive. I'm going to try to take a look at the charts for GOOG, AAPL, and Nasdaq, since they help me in getting a sense of where the markets are going.

Let's first take a look at GOOG. We've heard some pretty positive comments on GOOG recently, but, it just hasn't really moved.

This chart is GOOG's daily chart. What I see here is that we did successfully test the support at around 438 twice. But, although we bounced off, the bounces weren't too strong. The first time, we bounced straight to the 20-day MA. The second time to the 10-day MA. The good thing is that the MAs seem to be flattening out, especially the 10-day. Even with Friday's down move, it didn't budge. MFI seems to have hit bottom.

The next chart is GOOG's intraday hourly chart. If we're gonna get a positive day on Monday, we'd better go above the 10-hour MA. It acted as a barrier all day on Friday. Good things are that the MACD, MFI, and RSI are starting to turn up.

Now, let's continue with AAPL:

This is AAPL's daily chart, which looks quite good. We have the MAs curving up, and the 10-day MA is above the 20 is above the 30-day MA. It also stayed above the support at 88.7, and, the MACD is looking quite good.

On AAPL's intraday hourly chart, however, we see that the BBs are narrowing in. If AAPL is going to help in a rally on Monday, it'll need to go above 90 and catch the upper BB to push it open.

Now, the Nasdaq:

This is quite complicated. And, I'm going to choose to focus on the good things:

1) It successfully tested support at around 2342.

2) The 10-day MA is flattening, and, if we rally on Monday to above the 10-day MA, we'll have 2425 to look forward to, which is about where the 20-day MA is going to be.

3) The MACD has been trying to turn. Can it go positive?

So, as we are in a rough market environment, I'm going to try to take one day at a time, until we see clearly trend-setting signals. What I'd like to see is a strong Monday that brings Nasdaq above 2400, followed by a flat (hopefully, still in the green) Tuesday to wait for the Fed's decision. And, on Wednesday, if the Feds give hints that they would consider lowering the rate, hopefully, we can get a real rally going.