AAPL is actually lagging the Nasdaq for a rare change, well shy of a key resistance that will determine whether the stock is headed for a moon shot to 152. It is currently trading for around 117, but the bullish trigger point at 127.53 lies 11 points above, or 9.1%. By contrast, the QQQ, an ETF proxy for the Nasdaq 100, need only rally a further 1.4% to reach a comparable benchmark at 286.20, a midpoint Hidden Pivot. My guess is that the manic energy of Freaky Friday will get it there, but I’ll be curious to see whether DaBoyz can close the Cubes above it. If so, it will give them a running start when index futures begin to trade again on Sunday night.
QQQ Could Drag AAPL Higher for a Change
Posted on October 1, 2020, 7:01 pm EDT
Last Updated October 1, 2020, 7:01 pm EDT
- October 2, 2020, 9:32 am
Okay, so I’m getting all these articles and video suggestions in my news feed, saying ‘Trump Tests Positive, Markets Crash!’, and such like.
a) I’m guessing today’s commentary from Rick is on “rain delay”?
b) Why is anyone surprised? It’s as “shocking” as when Jair Bolsonero and Boris Johnson tested positive!
c) Much ado about nothing; second term assured.
d) Why is anyone surprised that democRats are overjoyed at even the fantasy prospect that Trump will bite the dust? They’re democRats. It’s what they do!
e) Market pretending to care about reality, so that it can dip and recover — which is as inevitable as points B & C — and say, “See? I care about reality!”.
Have a fun and amusing weekend, everyone!