Stocks: Apple is Very Oversold. What to Do?
Stocks: Apple is Very Oversold. What to Do?
Something to consider
Authored by GoldFix ZH Edit
The Market Ear (TME) noted in a premium post Friday that Apple is oversold in context of the whole market’s risk profile. This particular chart got our attention.
We added the yellow notations to their chart and comments below:
One point we derived from their analysis is that while Apple is oversold and a “buy” by past observations, some reasonably reliable risks such as DXY/VIX (positive) correlation are noted as high and pointing to risk increasing, not decreasing.
DXY and VIX continue moving in tandem, both trading at highest levels in a while. You watch this stuff carefully. Last time it started occurring when SPX topped out in July.- TME
Dollar and Vix Co-trending is Too much for Stocks to Take…
Our Take: This is a trade to look at.
Bulls— Any short-term buy signal on your own systems should be considered seriously with tight stops and only to be considered as taken home if they close as winners (continues)Bears-
Continues here
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