AAPL251010C245000.US

$Apple(AAPL.US)

Context:

Last Friday saw a drop of -2.51%, breaching MA10 briefly before pushing up and closing at 319.97. I can’t attach a photo of the chart analysis as I have to select holdings under the current Trade Showcase activity rules and showing holdings and adding photo can’t be done at the same time.

The uptrend channel is still intact for now but I wouldn’t add at current price yet as there is a chance it may fall further to 306 which is the lower limit of the uptrend channel and it is still above the middle of the Bollinger Band. The next support level is 300.

Apple’s “Surprise and Shine” event on 9 Sep is CEO John Ternus’s first product event. While the Apple ecosystem has a strong moat and its services income remains robust, there are some concerns that higher component costs which lead to higher prices will dampen the sale numbers of the new models. The reception to Termus’s first product event is therefore an important gauge of short term trading sentiments.

My Trade: Nil. Still observing for my next entry point.

Takeaway: Monitor how the stock price reacts to the “Surprise and Shine” event.

$Corning(GLW.US) daily with a gap up. $Apple(AAPL.US) supplier. New foldable iphone coming

Source: Sunrise Trader

NEW: Apple to Kick Off Ternus Era With Its Biggest-Ever Slate of New Products — From the foldable iPhone to a touch-screen MacBook, here’s what to expect on Sept. 9 and beyond.

Source: Mark Gurman

The week is concluding with a strong Aug job report and that's pulling back those rate hike expectations. The relief from yesterday may be short lived.

The market might be getting ahead of themselves and they might be starting to realise this administration will want to keep the business cycle going into elections.

I believe the Fed chair had to be hawkish last week for credibility and to be fair he was doing the correct thing. The market as usual likes to over react and overthink.

Non farm payroll is impt, coupled with fed governor comments

What Walker actually said was not quite dovish as it is a neutral conditional statement that *if* inflation continues to show signs of decline over next 2 weeks, then a hike wouldn't be needed in Sep. He made clear that the Aug CPI on Sep11 would be a data point. A market that rallies on such conditional statements means it was positioned for something worse; a lot of bearish leaning scared into repositioning.