Apple’s Bad Week:

Apple’s weekly trend officially went BEARISH 🐻. I made a 10 minute video where I review how APPLE could go bearish 🐻 earlier in the week.

It’s official now. Apple has flipped BEARISH 🐻 on the short, intermediate and longer-term based on Daily Price Action. (Watch is at 1.5x)

Apple’s stock behavior changed in a big way in the past 2 weeks. We can see the largest stock in the world has a different personality now.

Market Performance:

We will review the indexes, then review $SPY $DIA $QQQ $IWM and rounding out our market review in the volatility corner.

You’ll want to see the volatility corner update, it’s getting worse for now. We use this high level review to understand market conditions.

Index Review

When it comes to indexes, you’d be surprised to know the DJI is the only bright spot ☀️ this week. Which makes sense because Apple is a heavy weighing in both the S&P500 and Nasdaq.

Volatility Corner:

VIX / VVIX deteriorated. Blue up is good, blue down is bad. The ratio almost fell below it’s 23 week average.

It would have been the first time since January 2023! This signal shouldn’t be ignored. This is an important week to watch indexes.

US Index ETF Review:

SPY

• Bullish Trend Since 5/31/23🟢

• Go SHORT Since 8/11/23🛑****

• Price to FALL Since 8/8/23🛑***

DIA

• Bullish Trend Since 6/30/23🟢

• Go Long Since 7/13/23🟢

• Price to Rise Since 7/7/23🟢

QQQ

• QQQ Bullish Trend Since 5/16/23🟢

• Go SHORT Since 8/10/23🛑***

• Price to Fall Since 7/28/23**🛑

IWM

• Bullish Trend Since 5/24/23🟢

• Go SHORT Since 8/10/23🛑****

• Price to Rise Since 6/29/23🟢

New Highs $5-$20:

1. HPE - Communication Equipment (USA) 🇺🇸

2. KTOS - Aerospace and Defense (USA) 🇺🇸

3. PAA - Oil & Gas Midstream (USA) 🇺🇸

4. PR - Oil & Gas E&P (USA) 🇺🇸

5. TAST - Restaurants (USA) 🇺🇸

6. EVLV - Security & Protection Services (USA) 🇺🇸

7. HLLY - Auto Parts (USA) 🇺🇸

8. RIG - Oil & Gas Drilling (Switzerland) 🇨🇭

9. CBAY - Biotechnology (USA) 🇺🇸

10. TDS - Telecom Services (USA) 🇺🇸

11. GCI - Publishing (USA) 🇺🇸

12. SVRA - Biotechnology (USA) 🇺🇸

HPE - Communication Equipment (USA) 🇺🇸

KTOS - Aerospace and Defense (USA) 🇺🇸

PAA - Oil & Gas Midstream (USA) 🇺🇸

PR - Oil & Gas E&P (USA) 🇺🇸

TAST - Restaurants (USA) 🇺🇸

EVLV - Security & Protection Services (USA) 🇺🇸

HLLY - Auto Parts (USA) 🇺🇸

RIG - Oil & Gas Drilling (Switzerland) 🇨🇭

CBAY - Biotechnology (USA) 🇺🇸

TDS - Telecom Services (USA) 🇺🇸

GCI - Publishing (USA) 🇺🇸

SVRA - Biotechnology (USA) 🇺🇸

New Highs $20+:

1. EXEL - Biotechnology (USA) 🇺🇸

2. UBS - Bank (Switzerland) 🇨🇭

3. HCKT - Information Technology Services (USA) 🇺🇸

4. PBF - Oil & Gas Marketing (USA) 🇺🇸

5. LMB - Engineering & Construction (USA) 🇺🇸

6. PRIM - Engineering & Construction (USA) 🇺🇸

7. PARR - Oil & Gas Marketing (USA) 🇺🇸

8. STRL - Engineering & Construction (USA) 🇺🇸

9. CBOE - Financial Data & Stock Exchanges (USA) 🇺🇸

10. MCK - Medical Distribution (USA) 🇺🇸

11. GPI - Auto & Truck Dealerships (USA) 🇺🇸

12. EME - Engineering & Construction (USA) 🇺🇸

EXEL - Biotechnology (USA) 🇺🇸

UBS - Bank (Switzerland) 🇨🇭

HCKT - Information Technology Services (USA) 🇺🇸

PBF - Oil & Gas Marketing (USA) 🇺🇸

LMB - Engineering & Construction (USA) 🇺🇸

PRIM - Engineering & Construction (USA) 🇺🇸

PARR - Oil & Gas Marketing (USA) 🇺🇸

STRL - Engineering & Construction (USA) 🇺🇸

CBOE - Financial Data & Stock Exchanges (USA) 🇺🇸

MCK - Medical Distribution (USA) 🇺🇸

GPI - Auto & Truck Dealerships (USA) 🇺🇸

EME - Engineering & Construction (USA) 🇺🇸

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