Apple Earnings Report Contributing to 7% Loss
I was going to say how well markets did to finish near highs after pre-market action has indicated a possible rout but now we have Apple after-hours earnings report contributing to a 7%+ loss…
An open at 146s would start the stock at the December swing low but the trend is clearly down and technicals – aside from the MACD trigger ‘buy’ – are not offering any bullish divergence.
The S&P (NYSEARCA:SPY) has support at 2,346 to lean on; it should be good enough to open above 2,346 but can it finish higher? There was also a MACD trigger ‘buy’.
The Russell 2000 (NYSEARCA:IWM) also had its MACD trigger ‘buy’ but as having sold off harder than other indices it’s offering the best discount value. Going out on a limb and suggesting this index might be okay tomorrow.
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Retirement Day Trader:
How to Sell Weekly Options for Steady Income
For tomorrow, pre-market will set the tone but if it can generate a day like today then this swing low will have confirmed its resilience.
Again, long-term investors will be given another golden opportunity to add to existing positions.