AAPL: Waiting to see if aapl goes down more PM or MO. ~Rumor has it aapl is announcing iphone 13 next week. Buy the rumor sell the news. ~If price action continues to fall, we have support at 146.95-147.70. ~A crucial point to watch if price continues to plummet is 146. This is a major support line since August 2020 (peep the highlighted parallel uptrend)
@ssyxworld, AAPL was in a massive lawsuit from Epic Games which they lost. The case concluded after hours. That could be a major factor in why that last candle was so big and red. (Other than the massive drop across the board)
Now that the lawsuit is over, the only big news from aapl is a rumor that they will announce the iPhone 13 on Sept 14th during their online only event at 1 PM EST.
Aapl is usually the first to change momentum. While I do believe we can go lower because of a SPY over-the-weekend dump, this may be an opportunity for a team-up with "buy the dip" and "buy the rumor. sell the news." (Although I will say that I will not play anymore AAPL calls after the news releases. And will wait for a confirmation bounce off a support before I leave my current AAPL put swings.)
PS. Responding to your other comment, I have already been looking to buy Jan. 21 2021 OTM puts on SPY. But I do not think the market correction is at hand just yet. I think we may see it mid October into late November. Hence I am going to wait for a better entry :)
ssyxworld
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the whole m,arket has turned to fire and brimstone. Suspect more downwards action on AAPL XOM SPY AMZON TSLA FB GOOG . if purchasing option puts go out to December out of the monies and let it come to you