Market / Metals / Stocks To Keep Watching June 10th, 2014

Despite the 'boring' action this week, so far, the market continues to grind higher with no visual cracks to reports of on the charts as of right now.

We see strength in stocks like AAPL [$94.21], LNKD [$163.57], FB [$65.58], AMZN [$332.27] and the Social Media ETF SOCL [$18.36] suggesting that tech is playing catch up after lagging the general market over the last few weeks.

At the moment AAPL [$94.21] is holding nicely above previous monthly closing highs at $91.48. A good market could take it to $110 - $120 in the coming months.

The Nasdaq index [4333.74] does need to breakout and hold above 4336.22 on the weekly if it is to advance well beyond current levels. Right now this breakout is stalling. Remember failed breakouts are notorious for igniting sell offs.

Should GLD [$121.33] and GDX [$22.855] hold above $120ish and $22.50ish respectively on the weekly charts then this might be time for gold bugs to add to their positions with stops at the support levels mentioned above.

I also mention FMCC [$4.41], SWHC [$17.11], SPWR [$33.73], KNDI [$12.39] and SWIR [$19.62].