September 4, 2018 | AAPL, AMZN Keep Market Selloff at Bay

AMZN and AAPL kept the broad averages from plummeting Tuesday and look likely to lend further buoyancy to the markets for at least a couple more days. The latter, with the highest capitalization of any publicly traded stock, rose 0.82 to close at 228.45. This surpassed a middling Hidden Pivot rally target we’d been using at 226.26, opening a path to the 240.05 target shown in the chart (see inset). AMZN rose even more, percentage-side, and now looks like a good bet to rise to at least 2260, or 224 points above the latest close. Rick’s Picks will continue to keep a close eye on both stocks, since, as long as they are moving higher, the stock market will not be able to sell off to any significant degree.
STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.
Rick Ackerman September 4th, 2018
Posted In: Rick's Picks
Next: America’s Finances Seem Fishy »