- Technical Market Commentary -

August 19, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Today’s FirstAlert(tm) features Apple, Inc. (NASDAQ: AAPL), Comcast Corp. (NASDAQ: CMCSA), Dell, Inc. (NASDAQ: DELL), the Financial Select Sector SPDRS ETF (AMEX: XLF), Pfizer, Inc. (NYSE: PFE), Cresser-Rand Group, Inc. (NYSE: DRC), Chipmos Tech Bermuda, Ltd. (NASDAQ: IMOS) and more…

“Apple Looks Bearish” (By Frank Kollar) — Shares of Apple, Inc. (NASDAQ: AAPL) have been been moving mostly sideways since mid-April. There is a chart pattern developing that could be pointing to lower lows ahead. Looking at a daily chart of Apple, shares rallied to a high in April of $270.83 a share. After two months of volatile mostly sideways trading, shares rallied in mid-June to $273.85 a share. After again trading mostly sideways, shares rallied one more time in late July to close at $264.08. This creates a head and shoulders pattern and such topping patterns typically result in a new trend to the downside.

If shares of Apple close below $245, we would expect that considerably lower lows are ahead. There is initial support at $234.63 and then $224.15. Also the 200-day moving average for Apple is at about $230 and rising. Any of these support levels could be the lows for a decline, but a four month long head and shoulders pattern seems to point to a longer term decline, possibly to the $200 level or even lower.

(Go to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby+cmmtry for more of Kollar’s commentaries.)

**Today’s FirstAlert(tm) is brought to you by Marshal Shichtman & Associates, P.C. (see below).**

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the combined NYSE, AMEX and NASDAQ 25 most actives and combined NYSE, AMEX and NASDAQ greatest percentage losers and greatest percentage winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Last session’s most actives showed 20 advancers versus 5 decliners. Volume leaders were led by Citigroup, Inc. (NYSE: C) (streaming research for Citigroup available at http://investrend.stocksmart.com/ri/toc?tid=7921), the SPDRS S&P 500 Trust ETF (AMEX: SPY) (streaming research for SPY available at http://investrend.stocksmart.com/ri/toc?tid=34430), Bank of America Corp. (NYSE: BAC) (streaming research for BAC available at http://investrend.stocksmart.com/ri/toc?tid=8456), the PowerShares QQQ Trust ETF (NASDAQ: QQQQ) (streaming research for QQQQ available at http://investrend.stocksmart.com/ri/toc?tid=1044870), Intel Corp. (NASDAQ: INTC) (streaming research for INTC available at http://investrend.stocksmart.com/ri/toc?tid=3619), Microsoft Corp. (NASDAQ: MSFT) (streaming research for MSFT available at http://investrend.stocksmart.com/ri/toc?tid=4652), Pfizer, Inc. (NYSE: PFE) (streaming research for PFE available at http://investrend.stocksmart.com/ri/toc?tid=8675), General Electric Co. (NYSE: GE) (streaming research for GE available at http://investrend.stocksmart.com/ri/toc?tid=8030), the Financial Select Sector SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233), Dell, Inc. (NASDAQ: DELL) (streaming research for DELL available at http://www.investrend.stocksmart.com/ri/toc?tid=1945) and Comcast Corp. (NASDAQ: CMCSA) (streaming research for CMCSA available at http://www.investrend.stocksmart.com/ri/toc?tid=1487).

The FirstAlert(tm) Economics Calendar lists Initial Jobless Claims (8:30 a.m.), Leading Indicators Index for July (10 a.m.), Philadelphia Fed Index for August (10 a.m.), Treasury announces 2, 5 & 7-year note auctions (11 a.m.)

The FirstAlert(tm) Events Calendar showcases DRC at the WJB Capital Group Industrial Investor Conference; VSEA Investor Day.

The FirstAlert(tm) Earnings Calendar highlights Chipmos Tech Bermuda, Ltd., (IMOS) Q2 2010 Earnings Release.

FirstAlert(tm) Website of the Day: http://www.cdkitchen.com/recipes/articles/

Quote of the Day: "I have made this letter longer than usual, only because I have not had the time to make it shorter." — Blaise Pascal (06/19/1623 – 08/19/1662), French mathematician.

Word of the Day: piquant \ PEE-kuhnt \, adjective: 1. Agreeably stimulating, interesting, or attractive. 2. Agreeably pungent or sharp in taste or flavor. 3. Of an interestingly provocative or lively character.

In context: "His cook would catch it if his sauces weren't/ Piquant and sharp, and all his equipment/ To hand. And all day in his hall there stood/ The great fixed table, with the places laid." — Geoffrey Chaucer, The Canterbury Tales.

(Piquant is an alteration of the French piquel, literally "pricking.")

Today is: National Hot and Spicy Food Day

Happy Birthday: (1902) Ogden Nash (d. May 19, 1971)

Today in History:  In Salem, Massachusetts, in 1692, one woman and four men, including a clergyman, were executed after being convicted of witchcraft.

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