I haven't been watching stocks as much lately, but I wanted to point out some things that were obvious to me. Much like the SPX
, distribution has been set in for a while on the push to all time highs. Zuckerberg and large holders undoubtedly had knowledge about the coming outing of Facebook
. This is what distribution is...selling or profit taking, which produces a sideways type action within the chart, and is almost always followed by a significant dip in price. I imagine my first target area highlighted on the chart will be temporary, but may serve
as a nice place to take profits in the short term on short positions. Will update later as needed.