It’s also worth pointing out that the entire market is over weight equities and the fed tightening is raising 10 year rates and is putting pressure on the stock market now. So expect us to continue to level down with new lows each time we get overbought in the market.
David_Scott
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Short term bounce, longer term we’ve topped. Apple sales are dwindling, they’re lowering production rates (Foxconn), and obfuscating their sales numbers. The ath from growth and buybacks is over and the hangover is beginning. I expect we’ll retrace first to 190 but likely back down to the 2009 main trend line as the market realizes that fundamentally their growth is limited at this point.
WillNixTrading
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i was making a call to fill the air gap - the price gap from august.
This price action analysis proved accurate.
Dani0
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Have a look at market on the monthly view, apple EMA indicator and set to 50 so 50 EMA on monthly view, should see market bottoms out at 5o ema once it gets into a major bear trend so i agree with dedeburn. On daily market will go up some, on monthly view, market still has lower lows to come.
Dani0
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@Dani0, **apply EMA indicator lol..... not apple EMA indicator