Monday, August 5, 2019

Markets are waving a red flag

Technicals are getting weaker on US Markets. Fed, China whatever reasons but at a very inflated levels these technicals can mean a deeper correction.

Here's a chart for AAPL. Getting rejected at a key level of resistance. A bit of support at 160 zone but if that breaks we are looking at possible 140s to 130s.

Here's what SPY looks like.

Look how the Fib levels and support levels align. Look out below at targets close to 210s range as a first stop. ~25% down side. 

1 comment :

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