Tuesday, August 28, 2012

6:20PM Quick Review SPY + AAPL



Looks like I was correct, SPY had a consolidation day. AAPL didn't move either. We did the right thing at the time by taking the loss since the OTM calls became unworthy to hold through due price flatness and theta shaving off. We will look for another worthy opportunity to strike again


Tomorrow morning for SPY is bearish bias based on 60min's MACD (12-26-9 settings) weakness, it is also on the zero line. Which means that if it does not have a big gap for either side, we would likely shake/consolidate for the morning and then the real movement will begin after lunch; 12:30PM


AAPL

Not much to say for AAPL, it is still short-term bullish when above the green triangle trend line support


-Red Apple