Premarket: Apple is red

apple premarket red 11-2-21From MarketWatch's "U.S. stock futures pause at record highs as Fed decision looms" posted early Tuesday:

The Fed is due to start its two-day meeting on Tuesday, with expectations that it will announce on Wednesday it is going to reduce the rate of bond purchases.

“The key question going into this meeting will be to what extent the Fed pushes back against market pricing, which now suggests the Fed will begin raising rates by the middle of 2022,” said Bill Diviney, senior economist at ABN Amro.

“While worsening supply-chain bottlenecks and stubbornly strong goods consumption in the U.S. have raised the risk of more persistent elevated inflation, and uncertainty is high, we continue to think there is a high bar for the Fed to row back on its signalling that the end of asset purchases would not be immediately followed by rate hikes.”

Patterns: Yahoo!Finance sees Bullish momentum for Apple. Max pain has slipped to $147 from Monday's $148. The $150 call wall is back.

apple premarket red 11-2-21

 

3 Comments

  1. All attempts to hack away at Apple’s success seem in vain today as I enjoy a little 151 in the morn! Too many customers, such a problem every business would love to be confronting, eh? I hope the schoolkid’s iPads get priority in the chip swap going on.

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    November 2, 2021
  2. Rodney Avilla said:
    The resistance to go below 148-150 seems to be growing. I believe the speculators thought the investors would dump more aapl, but it does not seem to be happening. I believe the investors looked a little deeper at the numbers reported and concluded that Apple is doing quite well, and that aapl will also be doing quite well, if not now, then over the next 6 mos as production catches up.
    Maybe we’ll (long on aapl) get lucky and Cook & Co will report another ‘miss’ in Jan, and then the stock can go up even higher. (sorry for the dry humor)

    1
    November 2, 2021

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