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Weekly Setup on AAPL
Here is a Weekly Setup that I am eyeing on AAPL as a potential longer term buy in opportunity to play for a bounce back up.
Momo or Oh No?
The strength today seems to have reinvigorated some buyers, but what is the overall trend and the path of least resistance? That depends on where you look. In this update we look at what the FOMC is most likely to do and which trends will benefit.
New Lows Ahead?
The SPY weekly squeeze is beginning to fire to the downside, nested inside of a 3-day, 2-day, and daily squeeze. The 4-hour squeeze officially fired on Monday, which could trigger the market to a new low. We’ll be closely watching out for any major catalysts to impact this headline-driven market, specifically on Wednesday during Federal Reserve Chairman Jerome Powell’s statement.
Big Week Ahead
I believe the week ahead to very likely be the most important one of the year thus far. The FOMC is scheduled to meet and announce Wednesday its rate decision where most expect the first rate hike since 2018. Quarterly triple witching options expiration is right on those heels and set for Friday. All of this while right in the middle of the ongoing European news cycle.
Is 152 really the level to watch in AAPL?
Market commentators are concerned that 152 broke in AAPL. The Voodoo Lines roadmap shows us other levels which might be even more important.
SPY $340?
New weekly closing low into Quad Witch + Fed week. What comes next? Let’s review. $SPY $VIX
No Bounce in Sight Just Yet
It’s still hurry up and wait mode for me; I’m hoping we can re-test 4100 next week in /ES, this would help me gain a little more clarity as to when it’s potentially safe to start buying this market. In this video I also cover crude and gold and why it makes sense to wait for a pullback in those two before going long.
Don’t Fight Gravity
We’re close enough to levels below that can have a strong gravitational pull that we don’t want to fight the downside.
It’s Not Always About Direction
Precious metals have surged to levels we haven’t seen in years, and while the charts are still bullish, it may be time for a brief pause. Tonight we’ll look at the technical signals that brought us to where we are, and one way you can structure a theta positive trade in this market out into next week.
The best way to play long US dollars
Hint: It’s not the US Dollar Index and it’s a trend that has just organized that we need to keep an eye on. The idea behind being long US dollars is the aggressive tightening cycle that the FOMC is about to embark on. Here’s how we can continue to take advantage of it.
