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Update: Week In Review/Forecasting | #FB #NASDAQ #Facebook

NASDAQ:FB   FACEBOOK INC
152 0 2
Friends,

Yesterday, in the midst of a predominant total market reversal (see our bearish outlook and forecasts for GOOG             , MSFT             , AAPL             stocks, as well as for SPY             index and USO commodity), AAPL             came through as a contrarian to deliver a bullish signal. This stark contradiction made us look into it closer (See our "Facing Time To Fold?" original chart and commentary here: ).

As of today's close, a bullish engulfing candle finished the trading week into a bullish tone, pointing at the bullish target generated on the prior trading day. While be are optimistic that the target would be reached over the coming 1-2 weeks, we remain guarded as to the longer outlook when taking into context the predominance of bearish outlook on other stocks and broad indices.

While Facebook             might distinguish itself from the pack of bears, we still abide to President John F. Kennedy's 1963 comment: "a rising tide lifts all boats". In contrast, we would modify his aphorism by using the words "syphon" and "sucks in", where they should fit.

OVERALL:
#FB remains bullish , nearing an intact target overhead. However, our outlook is guarded considering the broader market context and the preponderance of bearish signals generated in other complicit stocks. If and when this stock provides a significant change in direction, we will offer added technical comments pertinent to the underlying change.

cheers,

David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado
USA


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Recent forecast hits:

1 - #USDollar: http://on.fb.me/19Pf77y
2 - #AUDUSD: http://on.fb.me/1kDHbdB
3 - #NGAS: http://on.fb.me/1aSMYHV
More archived here: http://bit.ly/16JMnH8


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Disclaimer from Bob Lobb Law: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. Want to trade? Then, do your own due diligence first, seek professional advice from a licensed professional and enter the market at your own perils - 4xQuad, LLC.
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

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