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AAPL ruined my day


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#1 gm_general

gm_general

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Posted 28 October 2022 - 07:32 PM

Apple stock was down after earnings and early reports reflected that, but likely the end of the insider blackout on buying caused it to drag everything up despite Amazon's flameout. I was pasted on my SQQQ position from Tuesday and chased out. I was working with 3 coinciding things:

 

1. SPX MACD chart below would imply a 3rd "W" shape forming in which we just may have almost completed the 2nd part, which I assumed would complete like in the other 2 cases at the middle trend line (just a hair away now). This would I assume be followed by a down move (3rd part) followed by an uptrend (4th part). Illustrated below showing the index moves.

2. The post and video on how 5 out of 5 previous occurrences of $TRIN 10 SMA below 0.83 were followed by down moves and this is again below there.

3. The assumption FAANG stocks would get killed on earnings.

 

This worked out well until today. I projected upcoming moves in my MACD sheet (below) that would be required to turn MACD at the middle trend line and SPX would need to drop about 100 points Monday to do it (why I exited my position). Possible but a long shot.

Attached Thumbnails

  • spx_macd_20221028.jpg