The fake breakdown in AAPL and SPY is getting old, but the moving average cross is becoming unavoidable.
The blue resistance line in the AAPL chart is multi-year resistance (hard to breakout).
10WeekMA is pressing upwards toward this blue resistance line, leaving price no room.
10WeekMA is moving roughly $1 per day closer ($4.90 every 5 days).
With current white trendline ending 12/13, coinciding with tariffs, the moving average will be at $261 by this time.
Price will be $5 away from Moving Average right before Xmas.
Everything is lining up - although this is cutting is closer than I prefer.
Exits:
If price goes over $275 or new ATH's.
Pink Support around $240
Blue Support $180 (less likely until massive market selloff)
Please see Outter Space chart below for blue support/resistance lines reference.
JUST BECAUSE I THINK AAPL NEEDS A PULLBACK DOESN'T MEAN I HATE AAPL. PLEASE BE CONSIDERATE
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL
The blue resistance line in the AAPL chart is multi-year resistance (hard to breakout).
10WeekMA is pressing upwards toward this blue resistance line, leaving price no room.
10WeekMA is moving roughly $1 per day closer ($4.90 every 5 days).
With current white trendline ending 12/13, coinciding with tariffs, the moving average will be at $261 by this time.
Price will be $5 away from Moving Average right before Xmas.
Everything is lining up - although this is cutting is closer than I prefer.
Exits:
If price goes over $275 or new ATH's.
Pink Support around $240
Blue Support $180 (less likely until massive market selloff)
Please see Outter Space chart below for blue support/resistance lines reference.
JUST BECAUSE I THINK AAPL NEEDS A PULLBACK DOESN'T MEAN I HATE AAPL. PLEASE BE CONSIDERATE
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, and VIXY.
Short SPY, AAPL