What is the downside on Apple (AAPL) if the tariff proposals become reality? The best way to understand the downside is to run a retracement on Apple. The way to track a retracement is to track from a low to a high.
![[Image 2]](/wsr/images/rebelyell/2018-09-11-08-48-23/aapl%20retracement.jpg)
In this case, we use the low of February low to the recent high. Then we look at a pullback of 382%, 50% and 61.80% which are the Fibonacci retracement levels.
At a minimum, one should expect a pullback to $199.33 the 38.2% retracement. This would be a good level to enter the stock.
IPOs 5 on deck this week. Secondaries of note .
Filings after close .
data courtesy of IPO Financial
In After Hours Trading: SURPRISES CASY +.23. FLAT: MISSED: MATX -.04 SONS -.30.
Lower Guidance: .
Mixed Guidance: .
Positive Guidance: .
Gold flat with silver and copper lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 119.53 with yields higher since last Friday. Prices as of 7:05 a.m. EDT.
Top Sectors Conglomerates and Technology.
Weak Sectors Materials.
One month winners Healthcare,Consumer Goods, Services and Technology.
Three Month Winners Healthcare, Consumer Goods, Services and Technology.
Six Month Winners Conglomerates, Services and Technology.
One Year Winners All except for Utilities.
Year To Date Conglomerates, Healthcare and Services.
Earnings due Wednesday morning: none of note.
Mandatory evacuations for millions in the Carolina. (AP)
Former Tesla (TSLA) bull at Nomura says company no longer investible thanks to Elon Musk's behavior. (Bloomberg)
The rise and fall of CBS CEO & Chairman Leslie Moonves. (NYT)
U.S. and allies may strike Syria. (WSJ)
CNN and major networks/cable to cover 9/11 observances.
Missing: .
Lower Guidance: .
Current Morning missing: .
Mixed Guidance: GIII.
Positive Guidance: NAV.
Yesterday saw 1754 stocks rise and 1107 fall on the NYSE. NASDAQ saw 1577 rise and 1418 fall.
The SP 500 is above its 50 day exponential moving average and is above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and is above 200 day exponential moving average.
The 10 day spread moving average of breadth is now a buy. The Madison Market Timing Indicator is still invested.
YTD 55% of stocks are higher and 45% are lower. Updated 8/31/18 close.
JOLTS Job Openings are due out at 10:00 a.m. EDT and last month came in at 6.62 million.
Morgan Stanley Healthcare Conference.
Credit Suisse Global Steel and Mining Conference.
Raymond James North American Equities Conference.
Gartner Security & Risk Conference.
| Firm | Upgrades | Downgrades |
|---|---|---|
| JP Morgan | ||
| Goldman Sachs | ENDP ECR DRI BLMN | MNK CNX WING |
| Morgan Stanley | ||
| Deutsche Bank | ||
| Citigroup CC Merrill Lynchp | ||
| Merrill Lynch | RUN PAGP | |
| Wachovia/Wells Fargo | ||
| Credit Suisse | ||
| Banc of America | ||
| UBS | ||
| Stifel | ||
| William Blair | ||
| Jefferies | ||
| Bernstein | ||
| Needham | ||
| Raymond James | ||
| Stifel | ||
| Piper Jaffray | ||
| Bernstein | ||
| Moffet Nathanson | ||
| Robert W. Baird | ||
| Cowen | ||
| Sun Trust RH | EXC | |
| MKM |
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