Today’s Chart of the Day was shared by Louis Spector (@EastCoastCharts). It's a daily candlestick chart of Apple Inc. ($AAPL) over the past two years. Apple has held up relatively well this year, however, it's finally starting to cave this week with the stock closing at a six-month low today. Louis points out that its currently testing a crucial level around $135-$140. Keep in mind, that this is the largest stock in both the S&P 500 and the Nasdaq 100. It has a bigger impact on the S&P 500 than the entire Energy sector. The indices are already in a delicate place and do not need another heavyweight breaking down. Will buyers step in at this key level, or, will Apple be the final shoe to drop?
Chart of the Day - Thursday, May 12th, 2022
May 12, 2022
