Friday, October 26, 2012

Apple Creating Volatility

Apple-earnings Thursday after-hours was quite exiting to watch. Earnings results and guidance weren't great at all and the stock lost about 5%. But it didn't take long for it to regain most of the losses.

Today was almost a replica of that same trade. Apple losing ground, down 3% and making it all back an hour before the close. The bulls could have done without the last half hour of the session (for AAPL as well as equities in general). Bears took over and still no decent close for the bulls. Advantage: bears!
If bulls don't start pushing soon, we could easily lose another 3-5% on the indices.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
Almost no differences for any of these. Silver losing 0.15% was the biggest mover...

Have a great weekend!!

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