Okay, got stopped out from prior low last week which is acceptable loss and low risk. The reversals show possible gap down and did due to EU trying to fine AAPL 1 billion on music. I am more interested in their AI developments and this is just noise right now and giving us good opportunities for future.
Now reviewing these new levels I am watching the points below on the chart.
ASSETS I AM USING:
- AAPU – leverage etf (caution can move)
- AALY – dividend etf uses covered calls to pay div’s every 3 months
- AAPL – stock or buying options
POINTS OF RISK:
- 173.60 Weekly Bearish – Acting as some support right now (caution though)
- 171.80 Monthly Bearish – Good monthly bearish support?
- 170.80 Weekly Bearish – EXIT ANY NEW LONGS, can gap down to 164.20
TIMING / ARRAYS:
- (Feb 26th) Weekly last week Turning point (we broke it can head lower for 2 weeks (pinks)
- March is Turning Point, can be a low or May if does not hold
- March 11th Week, or March 25th?
Weekly Chart – AAPL
Day Chart
Below is last weeks day chart, notice we needed to hold or we test 176.10 > 172.50. Look at todays chart below this.. We hit almost perfect to next spot down
Below is Monday, March 3rd 2024. Notice the gap down which I was warning about in last post. This is why I size accordingly and reduce risk knowing where I am right and where wrong. Low risk is good for me. High risk, large losses is not cool 😉 So I trade to accepting risk without issues.
UPDATE: 3/5/24
Another gap down and we are now testing the day bearish with a possible gap down into next day bearish. I am noticing QQQ has a gap as well with the day bearish reversals. So this could get interesting.
Timing wise, today is turning point, but weekly we still have another week of this downtrend possible(2 pinks). This will have me cautious. It seems we are getting close to a bottom?? but 164.20 weekly worries me and 159.20 monthly bearish worries me.
