Apple

  • AAPL

  • $230

  • -2.39%

  • $234

  • $235

  • $228

Granny Shots

Ticker Appearances

Daily Technical Strategy
Tue, October 22, 2024 | 6:56PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Breadth starts to tail off while many just concentrate on NVDA

EQUITY TRENDS REMAIN BULLISH, YET SPX IS CLOSE TO SEVERAL PROJECTED TARGETS NEAR 5900 WHICH SHOULD SLOW THIS RALLY DOWN AS IT NEARS THE END...

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Visitor: 8B6619E1-5B3B-48A7-9DDC-27F9CB9A0953

Daily Technical Strategy
Tue, October 8, 2024 | 6:35PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Software breakout should help drive further relative strength within Tech

SHORT-TERM US EQUITY TRENDS LOOK TO HAVE TURNED BACK HIGHER LAST FRIDAY FOLLOWING A CHOPPY PERIOD OF CONSOLIDATION IN RECENT WEEKS.   DESPITE A PLETHORA OF...

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Visitor: 8B6619E1-5B3B-48A7-9DDC-27F9CB9A0953

Mon, October 7, 2024 | 11:43AM ET

⚡ FlashInsights

Mon, October 7, 2024 | 11:43AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
AAPL -2.39%  pattern very similar to NVDA, but lagging on its breakout- Today's downgrade not having much of an effect and expect this to actually push higher and get above 228 which would be its technical catalyst, which should lead this to quickly challenge its triangle resistance near 233 and then break out back to new highs. Eventual targets lie at 243, then 251. But very constructive pattern here and compelling technical risk/reward.
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Mon, October 7, 2024 | 11:42AM ET

⚡ FlashInsights

Mon, October 7, 2024 | 11:42AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
Fractional decline to kick off the new week in US Equities, but Technology's relative strength is helping this market hold up a bit better than it would without its influence. Financials and Utilities are down 1%, and 10 of 11 sectors are lower, with just Energy up today. TNX is back over 4%, and China's FXI has gapped up again and now trading over $36. This pattern in SPX is not too negative and represents just some minor backing and filling which then should begin to turn higher back to new highs. Key for ^SPX -0.78%  will be 5753 while for S&P Futures that level lies at 5808. Both are important technical catalysts, and expect that Tech should lead on this rally over next couple weeks given the strength in key Tech names like NVDA -2.37%  and AAPL -2.39% . S&P should not undercut 5677 in my view, and should be starting to stabilize today after early weakness.
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Thu, October 3, 2024 | 12:16PM ET

⚡ FlashInsights

Thu, October 3, 2024 | 12:16PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
NVDA -2.37%  pattern is not unlike AAPL -2.39%  and at a combined 10% of SPX, is at least part of the reason for a bit of slowdown in the Tech trade lately. (Both AAPL and NVDA have traded in range-bound symmetrical triangles since July) As seen, this triangle pattern requires a move over 126.50 for a breakout (and this is the likely outcome) and today's rally to multi-day highs has provided a bit of a short-term spark for Technology (While Equal-weighted Tech is just fractionally positive, XLK is up +0.55%, due largely to NVDA, PLTR 0.16% , AMD -0.78% , CRWD -2.76% , and MU -2.25%  outperformance, all of which are higher by more than 2%. NVDA looks appealing here ahead of its breakout, and movement above 126.50 should result in acceleration that leads this back to new highs, technically.
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