AAPL: S&P500 RELATIONSHIP / PIVOT / TECHNICALS IN FAVOR OF BEARS
DESCRIPTION: In the chart above I have included a macro analysis of AAPL & its congruent relationship with the S&P 500 INDEX. AAPL is to be consider one of the major players when it comes to overall US MARKET PERFORMANCE & is the reason why understanding AAPL's price action momentum is so vital.
POINTS:
1. AAPL channel deviation where liquidity usually occurs between SUPPLY & DEMAND = 12.50 POINTS
2. Macro Trend: Downtrend Channel; Micro Trend: Uptrend channel with Bearish Ascending Triangle Formation
3. Macro Trend continues to make lower highs & lower lows after peak from January 2022.
TECHNICALS:
RSI LEVELS on the DAILY time frame have been squeezing into overbought territory for the past 4 months.
MACD LEVEL is in common overbought territory where rejection & downturn is indicative.
BULLISH POINT OF CONTROL: 167.50 POINT must be broken to the upside in order to invalidate BEARISH SETUP.
BEARISH POINT OF CONTROL: 155.00 POINT must be broken in order to further validate BEARISH SETUP.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
AAPL
POINTS:
1. AAPL channel deviation where liquidity usually occurs between SUPPLY & DEMAND = 12.50 POINTS
2. Macro Trend: Downtrend Channel; Micro Trend: Uptrend channel with Bearish Ascending Triangle Formation
3. Macro Trend continues to make lower highs & lower lows after peak from January 2022.
TECHNICALS:
RSI LEVELS on the DAILY time frame have been squeezing into overbought territory for the past 4 months.
MACD LEVEL is in common overbought territory where rejection & downturn is indicative.
BULLISH POINT OF CONTROL: 167.50 POINT must be broken to the upside in order to invalidate BEARISH SETUP.
BEARISH POINT OF CONTROL: 155.00 POINT must be broken in order to further validate BEARISH SETUP.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
AAPL
