By Markus Heitkoetter
The UP DOWN pattern was officially broken today after back to back gains. The S&P rallied to a new all-time high, ending the day up 3.5 points. This was the 26th record close of the year for the S&P.
The DOW failed to join the party today – closing 27 points lower. While the DOW moved opposite the crowd the NASDAQ led indices with a .4% gain. The move higher was due to strong earnings from both Apple (AAPL) and Facebook (FB).
Fueled by positive earnings Facebook (FB) marched higher, ending the day almost 3% higher. With a Power Crossover Method Buy Signal identified on 18th July 2014, FB is half way to its ADR Profit Target after just 3 trading sessions.