Based on the Daily trend with AAPL, and the high correlation with SPY, I see us taking our trip down before year end.
The moving average is too close to price with AAPL.
The blue resistance line is multi-year (forming in 1998 see Outter Space Chart) and I don't see price going beyond blue resistance by more than $10.
By next week the 10WeekMA will be around $263.
This implies that price will either cross the MA in a downtrend, or price will go outside blue resistance to escape.
Since the resistance has held for almost 20 years, I consider this strong, so price will go down.
Weekly chart below shows weekly trend extremely close to Bearish flip.
Outter Space chart below shows blue multi-year resistance will most likely not be exceeded.
We stay within blue lines...just like since 1998 LOL
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL
The moving average is too close to price with AAPL.
The blue resistance line is multi-year (forming in 1998 see Outter Space Chart) and I don't see price going beyond blue resistance by more than $10.
By next week the 10WeekMA will be around $263.
This implies that price will either cross the MA in a downtrend, or price will go outside blue resistance to escape.
Since the resistance has held for almost 20 years, I consider this strong, so price will go down.
Weekly chart below shows weekly trend extremely close to Bearish flip.
Outter Space chart below shows blue multi-year resistance will most likely not be exceeded.
We stay within blue lines...just like since 1998 LOL
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL