Author: Jeffry Turnmire

SBUX, AMD, PINS, plus many more earnings. Plus the “Cardboard Box Indicator”…? Watch out!

Today, I look at the reaction to the MSFT and GOOG earnings and the Fed’s possible rate hike.

Asset managers and leveraged funds going net long means we’re likely closer to a top than to the start of the next leg higher.

If we can get a daily close above the high from Apr 26 (indicated by the red arrow) then we could see ATVI rally back up to the point from which it dropped around $86.

But if Boeing can clear all that then $225 is my upside target based on the Market Roadmap pattern.  And you want to wait for the entry because the pattern all breaks down if Boeing breaks below $190.