I don’t think we’re out of the woods yet with banking shenanigans, but Apple Inc. (AAPL) has been showing relative strength. The stock’s gone up to $156 and change.
If we break $157, a climb to $165… even $170 isn’t out of the question.
But a lot depends on the market’s reaction to UBS’s takeover of Credit Suisse Group ATG (CS).
Looking at the MACD… it’s looking bullish. But again, with the recent bankings news… I’m keeping an eye on that $157 mark.
While AAPL continues going sideways to up, the SPDR S&P 500 ETF Trust (SPY) is going sideways to down.
While there was a huge gain on Thursday for SPY, we saw a gap down and sell off on Friday. That tells me investors are still nervous. As long as the SPY is below $393, we’ll remain sideways to down.
Have a good week! And remember to trade confidentially and trade safe.