I had several resistance zones marked, looking for a move in AAPL, $575 was an important support zone that had been broken, $600 was another as a centennial mark, which is psychologically important. The final area would be above the downtrend resistance just over $600, AAPL is now trading at $602.40, should this hold up overnight (the guidance may be an issue, if not now, probably soon), AAPL will have accomplished the volatility shakeout of numerous shorts we have been looking for.
As AAPL has the power to move the market, the level I'd like to see in the SPX would be in the $1400-$1410 area, currently the SPY is around $138 or $1380 SPX.
5 years ago
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