SPY and AAPL Briefing for Tuesday 8/22/2 ...

SPY and AAPL Briefing for Tuesday 8/22/23

Aug 22, 2023

First step to a bounce was recovering 437.45. If that can now act as support going forward, I'd like to continue building my UPRO position as close to that level as possible. 429.70 is still on the table, but we'd need to lose 437 first. Tomorrow I'll be watching that level again: bullish above and bearish below. We hit the first resistance level of 439.66 today, so that's the first target, followed by 442.46. If we swing back down, I'll be looking for a hold of 437.45, but if broken, 429.70. image

I also have been mentioning AAPL in my briefings the last couple of nights. I'm watching 174.15 to hold as support and a bounce. I haven't figured out targets yet as I'm waiting to see if indices corroborate strength. If AAPL follows NVDA's path, a retest of highs are certainly on the table. image

All this being said, I'm still bearish on the market, but am trying to profit on both sides of the action. Good luck the rest of the week!

Enjoy this post?

Buy Mason a coffee

More from Mason