Nasdaq 100 Futures have dropped 91 points, in a literal heartbeat, after Apple's earnings warning in after hours trading.
Chaikin Money Flow Indicator, (included here) clearly shows YET AGAIN.. distribution selling pressure under the guise of a Nasdaq100 Futures rebound rally from today's lows.
Since Apple is a large component in both the Nasdaq 100 and the Dow, tomorrow's open on the NYSE looks to be another downer.
I have been writing this for a long time,well documented in my previous articles on tradingview.com and pardon the simplistic explanation, but As Apple Goes..So Goes The "Market.
Nasdaq 100 stock bounces when they occur, are immediately met with selling pressure, to drive price back down again.
NQH19 Last 6261.25
THE_UNWIND 1/2/19 545 PM NEW YORK
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From: Tim Cook CEO Apple's Q1 Earning Warning 1/2/19
Quote " We did not foresee, the magnitude of the economic deceleration."
100% correct and will/has taken down much of the market and especially the tech sector with it. Facebook came 1st. Now AAPL. And then the rest. What's sad for perambulls is that they think the bear market rallies will save them. It's all just Wykcoff distribution. The real bend will happen after!
Spawn777
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Did Tim Cook just go Bi because he just F' ed us all. LOL. Too much?