$AAPL TOP 20
Added 2023-09-24 18:38:29 +0000 UTCOn all of the Top 20 Charts uploaded this evening, I have added in the MACD indicator to help us see where the trend is on each chart and the market, you will notice that there is a common theme on all the charts and we can see that our charts are from different industries and markets but yet all follow the same trend, with the exception of one or two.
Meaning that every industry is feeling the same pressure and that is downward pressure right now.
Last week was tough for all stocks with Trillions being wiped from valuations, this does not mean that the company you hold is a bad company but it means that no company is immune from the broad selling pressure.
Very little stocks, amongst the thousands available, have not felt any selling pressure.
$AAPL is the most important stock in the market and carries the most weight, when it started to pull back at the end of July at the 1.618 Fib, this started a chain of events which moved the market lower (Wave 4), the market initially tried to keep on fighting but ultimately followed suit.
$AAPL is fighting very hard to hold the $174 0.88 Fib, the last support line, losing this and $AAPL is likely coming down to the 200 Day MA at $165.
MACD is confirming a weak downward trend too.
