Everyone all bullied up yet? $AAPL Bounces, $FB Bounces…

The Bulls are back baby! You can feel it in the air. Big Momma $AAPL reported earnings on Tuesday with a BEAT (disregard the lowered guidance that tanked the stock in early Dec/Jan) and now $FB has come through with a BEAT (disregard the Daily active users not changing as a percentage of monthly users for NINE CONSECUTIVE QUARTERS lol.

The SPX has rallied off the lows and has had one of the greatest starts to a year in recent history.

My advice is to sit and wait here. The EASY money has been made. Yes, we have V-shaped up but now we are sitting at the most important zone in the last few years. The break and plunge below the 200 day MA brought back the volatility. This sparked the massive rebound back up towards this resistance area. The $FB buy was much lower. Not chasing in the 163 area.

From a longer term perspective, you wait and see what happens here. Do we resolve higher? Or do we roll back lower. I am betting on the latter!

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