Mega-Cap Tech Stock Could Drag This Market Lower – Here’s What To Watch

A break of a trendline doesn’t guarantee lower or higher prices, there are no guarantees in trading. However, they can give us a little forecast in what could come next. This is why we always preach patience in the market. Which brings us to our stock today…

Apple (AAPL) is approaching a couple important levels of support on the pullback from its recent high. Any breaks of these support levels could mean lower prices for the stock. However, this is largely dependent on where the market goes from here.

Yesterday, we were treated to a triple whammy of data drops. First, we had mortgage data, which didn’t move the needle much. Then, the big one, CPI data which cause the market to surge in the pre-market session with FOMC minutes being released later in the day, sending the market back lower.

If the market resumes its slide lower then watch for these levels to be broken. If these levels are broken, that doesn’t mean automatically enter a trade to the downside, but it does mean you should look for additional confirmations to the downside, such as looking at slower timeframes to see if the break is confirmed.

These are the types of lessons I go over with my students weekly in order to prime them for whatever the market throws at them, but if you want access to this kind of education, you’ll have to join today! Details below…

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