A Rare Event Hits Apple... The Global Printer BRRRth... and The Day AheadI wish someone loved me enough to invade a country on my behalf just so I could swim around in a pool of bauxite like Scrooge McDuck.. Apple is oversold. You're welcome.
Good morning: Okay, so let me start by saying this is unusual. Apple (AAPL)… the second-largest stock by market capitalization is trading at $259 a share. It’s up about 53% since its bottom in April… That was the last time Apple’s Relative Strength Index (RSI) - a measurement of price momentum - was in oversold territory. Yes… Apple is oversold. The time before April 2025 was March 2024 - at the height of a spasm in the money markets due to tax season. This is very strange…
Even though I said two days ago that we were the most stretched on the S&P 500 from a momentum perspective since October 27, Apple has been going in the wrong direction. There’s no real news… RSI pushed under 30… I’ll go out on a limb here - and just say that this usually doesn’t last that long… maybe a day or two at most. I’ll be swinging a call spread on Apple today, heading into next Friday. If you want to see the trade, I’ll be live in the premarket on my show Market Masters (it’s free). I’ll come back and let you know what the trade is. I might also look at selling put spreads on Apple as well for the February 20 expiration... Continue reading this post for free in the Substack app
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