AAPL, AMZN Keep Market Selloff at Bay

AMZN and AAPL kept the broad averages from plummeting Tuesday and look likely to lend further buoyancy to the markets for at least a couple more days. The latter, with the highest capitalization of any publicly traded stock, rose 0.82 to close at 228.45.  This surpassed a middling Hidden Pivot rally target we’d been using at 226.26, opening a path to the 240.05 target shown in the chart (see inset). AMZN rose even more percentage-wise and now looks like a good bet to achieve at least 2260, exactly 224 points above the latest close. Rick’s Picks will continue to keep a close eye on both stocks, since, as long as they are moving higher, the stock market will not be able to sell off to any significant degree.