The video in this report is only accessible to members
The video in this report is only accessible to members
Thursday’s post close selloff in $AAPL likely jump-started the pullback that could last into early November.  Factors such as near-term overbought conditions on intra-day charts, and the sudden deterioration in large-cap Technology look important just as S&P futures reached the 38.2% retracement of its August-October decline.  Moreover, this period in late October was thought to be significant as a temporary stopping ground for rallies based on a couple short-term cycles I track.  Yet, the vast improvement in sector strength, Small-cap participation as well as bullish mid-term seasonality and similarity to 1962 could all make any decline prove short-lived before further strength into December.  Overall, two areas look important as possible support outside of this initial downtrend which held the post market plunge late Thursday: First, 3735, and second a zone of support at 3650-75, with 3675 being a prominent Gann target based on the 10/25 high close.  Bottom line, dips will be buyable provided 3650 is not breached.  Under that level, while an alternate scenario, would postpone any rally and allow for a possible retest of lows.  However, even in this case, I expect that markets should likely bottom ou...

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