Taking a moment to look at the bigger picture for longer term investments we can see that we are in a correction phase on the S&P.

I would like to see significant evidence of support developing before looking to get long.

Keeping an eye open for shorting opportunities, both intraday and for multi-day swing trades.

Sort of a sloppy H&S pattern developing, not enough to get me looking long, but signaling that we are in a macro correction.

If level holds 1st target is a retest of the recent lows.

Here are a a few observations on apple AAPL and google GOOG

 

With apple in a very strong upward trend, the perfect setup isn't always going to be present....  Just look at the last run up to new highs.... everyone waiting for a deep congested pullback was left in the dust.  I would probably just be looking at this area as a potential add-on area, and wait for deeper levels to establish before looking for new highs.  Both fundamental and Technicals look good with this company.

  

stepping back a bit on the google chart we see a huge wedge pattern at a critical point.  In a vacuum I would looking hard at the long side, but knowing that the general market is going to tug at all stocks, I'm looking for things to get stronger before opening new longs.  I would like to see how price reacts to the inside level before doing anything.