Shutdown? Debt crisis? The market ignored everything and ironically is now OVERBOUGHT! (Yeah, who would have thought?)
In any event, “V” formations usually indicate a market in need of a break. That means if you have some good long ideas, you might wait for a pullback.
And speaking of long ideas, there are none more prominent than Google (NASDAQ:GOOG) and Amazon (NASDAQ:AMZN). First up is GOOG, a stock I’ve liked for a while and which finally broke out.
Another favorite of mine is AMZN. A solid breakout and while it may not go higher Monday, this certainly can’t mark the top.
Back next Friday to see if Congressional squabbling can help Dow see 16K!