After the news from the FED today, the
SPY
corrected and many of the FAANG stocks corrected heavily. If the SPY continues to run long tomorrow, there is a good chance that
AAPL
can run into and across the gap shown above depending on its volume in the morning. Stop would be below gap entry at 181, or at the bottom of a retest of gap entry, if that occurs. Back of the mind target for tomorrow will be gap fill. After taking profit, it is possible to hold a small fraction for a swing trade for AAPL continuation up towards the 20EMA around 190.
SPY
corrected and many of the FAANG stocks corrected heavily. If the SPY continues to run long tomorrow, there is a good chance that
AAPL
can run into and across the gap shown above depending on its volume in the morning. Stop would be below gap entry at 181, or at the bottom of a retest of gap entry, if that occurs. Back of the mind target for tomorrow will be gap fill. After taking profit, it is possible to hold a small fraction for a swing trade for AAPL continuation up towards the 20EMA around 190.
Comment:
With the pre-market move up, I have not taken a position. I will wait for a retest down towards the gap entry for a position long, dependant on the SPY's direction.
Comment:
With the SPY choppy and FAANG stocks in general looking weak and AAPL fading, I have not taken a position.
Comment:
There was a nice retest of yesterday's high of day by AAPL before its continued run. That would have been a good entry for a short, but I was looking for a long, so I did not see the set up.