📉 $S&P 500(.SPX)$ is starting to lose momentum after moving too far, too fast.
As noted yesterday, the recent move in $SPX stretched the level structure, so today’s muted session was largely in line with that caution.
Meanwhile, $Cboe Volatility Index(VIX)$ completed its unfinished move to 14.5, while the percentage of $SPX stocks above their 200-day moving average slipped to 51%.
⚠️ The bigger signal may be coming from $Apple(AAPL)$ .
I’ve been tracking $AAPL closely in the daily note this week after flagging possible exhaustion last Saturday. Today’s shooting star adds another warning sign.
It matters beyond AAPL itself. If the setup develops into a broader reversal, it could become relevant for the overall market.
Key levels for $AAPL and the broader market are posted below, along with levels for $NVIDIA(NVDA)$ $Meta Platforms, Inc.(META)$ $Amazon.com(AMZN)$ $Alphabet(GOOG)$ $Tesla Motors(TSLA)$
A few other setups worth watching 👇
🛒 $Wal-Mart(WMT)$
Up 2.5% as the expected gap-fill process continues.
🚀 $Advanced Micro Devices(AMD)$
Momentum remains constructive after flipping the 612.9 bullish target from resistance into support.
⚠️ $Meta Platforms, Inc.(META)$
Printed a bearish shooting star alongside AAPL, raising another potential exhaustion signal after yesterday’s rally.
📦 $Amazon.com(AMZN)$
Still struggling to reclaim both the 50-day and 20-day moving averages.
📉 $SPDR Dow Jones Industrial Average ETF Trust(DIA)$ & $Microsoft(MSFT)$
The Dow ETF $DIA is testing its Central Weekly Level, which could activate the bearish move outlined in the Weekly Compass. $MSFT is showing a similar structure.
For now, I’m watching the reaction at these levels rather than chasing the move higher. The next few sessions should tell us whether this is simply a pause or the start of a broader pullback.
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