Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

This Is The Chart To Watch

by December 29, 2022
December 29, 2022
This Is The Chart To Watch

According to Fidelity.com, Apple, Inc. (AAPL) represents 12.95% and 6.51% of the QQQ and SPY, respectively. The QQQ and SPY are, of course, the ETFs that track the NASDAQ 100 and S&P 500. That’s a very large weighting, so it would seem to make sense that AAPL’s influence will play a big role in the overall stock market direction. That’s not great news, considering that AAPL broke down yesterday below a key price support level of 129.50 from the June low:

AAPL had established critical price support at 129.50 on June 16th. Volume that accompanied this breakdown was heavy, considering that it was the normally light volume period between Christmas and New Years. You can see in the bottom panel that AAPL is completely out of favor and has been underperforming the NASDAQ 100 badly since the beginning of November. If the NASDAQ is turn higher from here, it’s going to need help from AAPL. We must respect this breakdown until AAPL can clear certain upside hurdles. For me, step #1 is to close back above 129.50. You can see that AAPL has recovered more than 3% today and is currently just above 129.50. But where will it close today? Step #2 will be to clear overhead price resistance at 134.50 and the 20-day EMA, currently at 136.36 and falling rapidly. Time will tell if there’s enough buying interest at this level to prompt these moves higher. For now, however, we must assume the AAPL breakdown is not a good signal for the health of the overall market.

While a stock like AAPL certainly carries big influence, there are MANY other signals that we need to watch as 2022 comes to a close and we open the book on 2023. That will be the topic of our 4th annual MarketVision event:

“MarketVision 2023 – The Road Ahead: Navigating An Uncertain Market”

This is a FREE virtual event and one that should be attended by anyone with an interest in U.S. equities. For more information and to register and save your seat, CLICK HERE. We will reach capacity, so please be sure to register TODAY!

Happy trading!

Tom

0
FacebookTwitterGoogle +Pinterest
previous post
10 Tips for finding cheap business class tickets to Europe
next post
New York Republicans speak out against George Santos’ lies, call for investigation

You may also like

MUST SEE! Top 10 Stock Picks For June...

May 31, 2024

Energy Sector Finally Becoming Bullish?

December 14, 2023

Hidden Gems: Bullish Patterns Emerging in These Country...

April 23, 2025

2 Consolidating Stocks Ready To Resume Their Uptrends

April 8, 2024

EQUITIES HIT ALL TIME HIGHS AGAIN WITH TECHNOLOGY...

June 17, 2024

Homebuilder Stocks are Soaring, But Is It a...

June 21, 2023

Continue to Learn from My Trades

August 18, 2022

The Best Five Sectors (1)

January 3, 2025

NVDA SCREAMS BULL With Earnings Breakout

February 22, 2024

Which is More Likely — SPX Over 4600...

September 9, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved