Apple is leading the Nasdaq blue chip stocks in the US. Last week Apple stocks were trading at all time highs. The market is now at a previous resistance where it has reversed before. If the DXY starts to rise, the stocks will fall. The chances that the market will reverse at a point where it has reversed before are very high.
Note
Price was rejected at the ATH at 186.00. These are the early stages of a bearish trend.Note
The weekly candle closed below the resistance. That's a good sign.Note
At the current levels where the market has been consolidating for days above the resistance, I also have to admit that anything can happen. Don't be surprised when the market breaks to the upside and starts a bull run. Use risk management and always keep an open mind !Note
The 184.00 resistance did not hold. I was wrong here.Note
DAMN ! What a fakeout !Note
Apple is literally bleeding !Note
THE DOWNTREND RESUMES !Note
APPLE IS BLEEDING !Note
As the FOMC is set to maintain the Dollar interest rates @ 5.50 later today, that may be a strong sign that the treasury yields may start to decline. For the stocks, that means more downside !
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.