The major indices are up to start the week, but there’s been no capitulation yet that could be the impetus for the next leg higher.
We need to see high volatility, a big down to expel the weak hands, and then a reversal higher.
We’re seeing higher volume on the way down, so I’d be very cautious.
We have Apple earnings coming this week, and it’s below its 200-day moving average. If it can’t get back above it, there’s a good chance Apple could head lower.
We also have some big data reports coming this week, including the latest Federal Open Market Committee interest rate decision.
The bond market, meanwhile, is still trading below it’s eight-day moving average…
In today’s all-new video, I’ll cover potential capitulation to the downside… is Apple going to pull this market higher or lower… which stocks we need to pay attention to this week… if Consumer Staples and Utilities are still in play… if the Fed is going to raise rates this week… if the Nasdaq is done breaking down… if global stocks are helping or hurting our economy… and the biggest threats and opportunities this week!
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