Charts: $SPX, AAPL

AAPL: So, which direction is AAPL going to take? I have no clue. So, I'll set a blue bracket and see what the stock does. I've been able to take profits this last week as well as have some costs here. Those tails whipsawed me.

Pivot areas: 167.25 and 163.50.


Why did I convert this to a line graph? The pattern the S&P looks to be potentially trading into a W pattern. Until it passes through the midpoint, there is no confirmation of a bullish sentiment. As you look back at the recent pasts with the W's, M's and Head & Shoulders, the S&P seems to be following these fairly well.


This is a closer view of what is happening now on a daily basis. People say we are heading into a bear market, but really, are we? The markets ARE indecisive, but it's not like we haven't experienced this before. Look back at the history.



My charts are a bit out of order. This chart of the S&P is on a WEEKLY timeframe. Note the great indecisiveness of the market in 2000. Could it be repeating now? Just a thought.




This is the overall pattern of the uptrend of the S&P as it works to figure out now what it wants to do. It's still trading within its uptrend. It really could fall to the 1400 range and still be in an uptrend.


With all these charts, what do I see for pivots for the S&P? A W pattern (and it's not confirmed yet) with the right support higher is a stronger bullish signal. But, once again, in neutral trading, keep my opinions out and let the market do what it wants to do and just go with the flow.

My bracket is set at 1463 & 1455.

Downside pivot points: 1439, 1430, 1407, 1397.

Upside pivot points: 1470, 1486, 1497, 1535

Those would be the pivot points if you are trend trading.
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