In-Depth Look At Apple, S&P 500, and The Nasdaq

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When we look at the S&P 500 we see more of a sideways range bound market albeit sloppy but sideways. When we look at the NASDAQ Comp. we see a classic 5 waves down with us tagging the 38.2% Fibonacci zone. When we look at AAPL here too we see a classic 5 waves down.  We'll talk more about the ramifications of that hopefully this weekend but in short form the question at this point really is? What comes AFTER 5 waves down?  Three waves up of course. When we look at the NASDAQ Comp. and AAPL (what's the difference anyway right?) we see a lot of confluence here in this zone.  5 waves down, a 38.2 (SPX) and 50% (AAPL) Fibonacci level being tagged as well as some prior support zone. How far this 5th wave goes is beyond us and everyone else but right now we're content here. We're not pleased mind you but not totally distraught either all because we're working within a framework and emotionally centered.   That framework allows us to be objective and centered vs. impulsive and emotionally reckless.  If your feeling emotionally impulsive and distraught ask yourself why.  Then listen to the answer you don't want to hear which is usually because you don't have a framework within you are working in. Nine times out of ten it's lack of trade size portfolio risk management and lofty pie in the sky expectations.   For us right now it's all about sitting back and watching what the indexes are going to do here. We say that as we can easily build a case for the NASDAQ Comp. and AAPL being near washed out.  If you like what you see just try it for ten bucks a month for the first two months sign up here. or Use the form below to sign up for All About Trends free newsletter with charts like these. If you would like to learn more about their premium service click here.