Let's go over the keys to this market. First we need to see Apple (AAPL) go higher all day as we got not one but two positive analyst notes about the diversity of the new phones that are about to be launched, and chatter about the revenue stream that comes from service.
We need to see Micron (MU) bottom because it is selling at 3.9 times earnings. We need to check DRAM pricing because this valuation would indicate it is falling off a cliff like flash did.
We need to see Facebook (FB) stop being sacked at every turn. This company has not had numbers cut yet which means, like Micron there is some degree of stability possible right here at the 22 times earnings mark.
We need to see Broadcom (AVGO) catch a sustained bid. You need buyers to step in and then Broadcom use its immense buyback to put a floor under any stock that gets bought.
We need to see Palo Alto (PANW) stay strong as the quarter was excellent.
It's a long day.
Don't make judgments yet or if you have, half positions please, no mote.
Random musings: Don't forget next week's club conference call!