SPX VS APPL ! Lets hope for the trend reversal at supports!Amazing similarity between SPX and APPL charts which is completely normal considering the weight of APPL in the market!
Shown supports on the charts are really strong and lets hope for the trend reversal at these supports. If not and they can not support may GOD support the market!
It is wise to consider the general attitude of the market if we want to open a position.
Same similarity can be observed for SPX VS MSFT and NVDA.
Good luck every one
APPL
APPLE Has Probably Peaked, Can FallTraders, APPLE stock can fall as it is forming a pattern and is showing signs of fatigue. This comes along with Amazon, Google Tesla, and Netflix stocks showing same signs. This can have a knock on effect on the NASDAQ which is already trying hard to recover from the recent "so far" minor correction.
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2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
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NDX VS APPL ! Amazing how APPL controls the market !Just notice the similarity between NDX and APPL Charts!
It is amazing how APPL impacts the whole market. It is very difficult to distniguish between charts without looking at the symbols. !
It is very valuable point to consider in our trades. I should add that MSFT has also the same effect!
Good luck every one !
Apple's WXY double Zig Zag, a probable count !!!Double and Triple ZigZag Rules:
Double (DZ) and Triple (TZ) Zigzags are similar to Zigzags, and are typically two or three Zigzag patterns strung together with a joining Wave called an x Wave, and are corrective in nature. Doubles are not common, and Triples are rare. Zigzags, Double Zigzags and Triple Zigzags are also known as Zigzag family patterns, or 'Sharp' patterns. Double Zigzags are labeled w-x-y, while Triple Zigzags are labeled w-x-y-xx-z. Both these patterns are included in the list of rules and guidelines below. Only a Double Zigzag is illustrated below.
Wave W must be a Zigzag.
Wave C of W cannot be a failure.
Wave X can be any corrective pattern except an ET.
Wave X must be smaller than Wave W by price.
Wave X must retrace at least 20% of W by price.
The gross price movement of Wave X must be less then 3 times the price movement of Wave W.
Wave X must be no more than 5 times Wave W by time.
Wave Y must be a Zigzag
Wave Y must be greater than or equal to Wave X by price.
Back to back and double failures are not allowed.
Wave Y must be greater than 90% of Wave W by price, and Wave Y must be less than 5 times Wave W by price.
Wave Y must be no more than a factor of 5 times either Wave X or W in price or time.
Wave C of Y cannot be a failure.
Wave XX can be any corrective pattern except an ET.
Wave XX must be smaller than Wave Y by price.
Wave XX must retrace at least 20% of Y.
The gross price movement of Wave XX must be less than 3 times the gross movement of Wave W.
Wave Z must be a Zigzag
Wave Z must be greater than or equal to Wave XX by price.
Wave Z must be less than 5 times Wave Y by price, and must also be less than 5 times Wave W by price.
Wave Z must be no more than a 5 times either Waves XX, Y, X or W in both price and time.
Double and Triple ZigZag Guidelines:
The largest Wave in Wave W is usually less than Wave W by price.
Wave X is usually a Zigzag family pattern.
Wave X is usually less than 70% of Wave W by price.
Wave X will usually retrace at least 30% of Wave W.
Wave X is most likely to be a 38.2% retracement of Wave W.
Wave X is next most likely to be a 50% retracement of Wave W.
Wave X is next most likely to be a 61.8% retracement of Wave W.
The largest Wave in Wave X is usually less than 140% of Wave W by price.
The time taken by Wave X is usually between 61.8% and 161.8% of Wave 1.
Wave Y is next most likely to be equal to 61.8% or 161.8% of W by price.
Expect the time taken by Wave Y to be between 61.8% of Wave W and 161.8% of shortest of Wave W and X.
Wave XX is usually a Zigzag family pattern.
Wave XX is usually less than 70% of Wave Y by price.
Wave XX will usually retrace at least 30% of Wave Y.
Wave XX is most likely to be a 38.2% retracement of Wave Y.
Wave XX is next most likely to be a 50% retracement of Wave Y.
Wave XX is next most likely to be a 61.8% retracement of Wave Y.
The largest Wave within Wave XX is usually less than 140% of Wave Y by price.
Wave Z is most likely to be about equal to Wave Y by price.
Wave Z is next most likely to be about equal to 61.8% or 161.8% of Wave Y.
The largest Wave in Wave Z is usually less than Wave Y by price.
Apple - Potential Head and ShouldersThis doesn't look great, we have RSI dropping with downward buying pressure on decent volume. Pattern wise, we have a classic head and shoulders potentially setting up, 134 and 127 could be bounce levels that match up with the 200ma and pattern completion zone respectively. This is not financial advice.
SPX. APPL just broke a major Fibs #,it could bring mkt down !!!We could bounce back in ABC then another 5 waves down !!!
Index Weighting: 6.2%
Market Cap ($B): 2,381.7
Revenue ($B) (4-Quarter Trailing): 347.2
Net Income ($B) (4-Quarter Trailing): 86.8
Place Change From Last Month: None
Apple is a major producer of hardware and software products, primarily for the consumer market. Its most prominent product is the Apple iPhone brand, but Apple also produces other brands including Mac computers and iPad tablets. It also operates the Apple Music and Apple TV media distribution platforms.
Nasdaq 15150 to 14800Price should range between zones 15150 and 14800, based on price action either buy limit 14800 or sell stop further.
Sell entry 15150, SL 15200
TP 14850
Leading into potential buy back to back or further sell stop order.