Archive for April, 2019

$SPY, $AAPL and $BABA wave counts for the month of April 2019

If you read the news today witht he DOW dropping 150 points and the NASDAQ looking to open lower the Boeing announcement of cutting the 737 MAX production and the big news that GE dropped more then 10% it all looks like doom and gloom. However the $SPY technical chart tells a different story that we are in a 3rd wave of (3) that is usually the strongest bull move. The signs are not all that strong at this moment but we still have ways to go to $293-$295 and we are currently sitting at $288 . The next $5 move should be a strong move.

$AAPL

Apple is on a 3rd wave move as well and this looks like another strong move to the upside how ever the RSI and MACD have negative divergence that seems to suggest that they are going to either reverse or have a consolidation.