Apple Crash? — Nick Santiago 9-6-23 #521
Listen now
Description
1. Markets are under pressure to start the day. Traders and investors are now back from the Labor Day holiday and are taking some chips off the table. 2. Everyone is talking about the oil rally right now. Crude has been very strong recently trading as high as $88.07 a barrel yesterday. It looks overbought to me at this stage, despite the news that Opec and Russia will cut production. While this news is bullish for the oil price the chart is overbought and extended. If anyone is long oil here I would at least protect the position. 3. Tech is getting hammered today. Apple (AAPL) is trading down by $5.00 today and this will certainly get the antennas up from many investors. This stock is certainly still the market leader despite all the focus being on AI and Nvidia (NVDA). 4. Gold is under a little pressure this morning. It is still trading above some key support levels, but a close below the $1914 level will open the door to lower prices. Silver is also very weak today trading down by 1.4%. Again, the pattern looks very similar to gold right now. 5. Bitcoin futures are under slight pressure today. The bullish pattern that was in place two weeks ago failed and I now look for more downside in the crypto name. My next key suport area is around the 21,500 level. https://InTheMoneyStocks.com https://FinancialSurvivalNetwork.com This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4295686/advertisement
More Episodes
This is perhaps our last show 1. Google, MSFT and AMD are leading the headlines today. They are all dropping after reporting earnings. Alphabet (GOOG) is the biggest loser falling by nearly 6.0%. This news is weighing on the NASDAQ which is trading lower by 1.17%. Like I said last week, these...
Published 01/31/24
1. It's a quiet start for the major indexes this Monday morning. While the indexes are higher they are just slightly positive. 2. This Is a huge week for earnings. Mega cap stocks such as MSFT, AAPL. AMZN, META, and AMD are all scheduled to report this week. 3. Oil,nat gas and energy are...
Published 01/29/24