If the markets can have a nice summer rally from here my two long picks are Apple & Google.

Apple has just completed a nice “cup with handle pattern” and set up to break out at $620, if it breaks through the near term resistance we could see a quick run to all time highs at $644 as the Can Slim investors,  chart pattern traders, momentum traders, and Darvas traders buy in and cause a surge. If we break out the next levels of logical resistance will be the all time high and then the century mark of $700.  If we can break above $620 then that should be our next support if we retest, secondary support would be $600 if we have a big correction during an uptrend. If an earnings miss can’t crater the Apple stock price what can? A 14 P/E does not give the stock a lot of downside with a 78% annual earnings growth. The world’s biggest and hottest growth stock is also a value stock.

Google broke out above near term resistance and is poised to make a run to $650 after that, $670 is a concrete ceiling of resistance. Google has the potential to make a run to all time highs with the earnings expectations behind Google fiber and Google glass not to mention their continued dominance of internet search, Google Chrome, and You Tube which is still a monetizing bonanza. Google is one big cap company that still encourages entrepreneurship in its employees and it pays off.

By overcoming all the sellers in one burst up Friday we are poised to go higher from here. When traders are in profits they tend to not be in a hurry to sell, when a pull back doesn’t come traders on the sideline tend to have no choice but to eventually jump aboard the train. This kind of chart is exactly where I like to be long at breaking above near term resistance, this may work and it may not but the odds are on the side of the bulls. Time will tell, my money is on these two until I am proven wrong.