Will Apple Tank the Market? | ShadowTrader Weekend Edition

Join Peter in today's ShadowTrader Weekend Edition as he covers the T/A in the SPX and NDX, discusses the unfilled gaps below us, most of which is pointing to buyers taking control once again. Get an in-depth look at the consumer staples sector and why now might be the right time to buy into COST. Plus, find out if Apple's recent performance could tank the market or if there's still room for growth based on historical data.

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Timestamps:
0:00 - Introduction
0:56 - The week in review
3:54 - What's really going on: SPX daily & NDX daily
9:38 - Sector spotlight: XLP daily & COST chart
14:49 - Charts to watch: AAPL daily
21:12 - Looking ahead: Econ data & Earnings
23:30 - Closing thoughts

#stocks #tradingrooms #futures #daytrading #options

[cindilewis]

Thanks again, Peter. Love your clear, informed, easy to understand analysis. I always feel better informed after watching your videos!

[balancetrading]

Peter, I absolutely loved your "Market Weekly Summary"—it was perfect! I also want to thank you for sharing those excellent videos.

I've been a full-time trader for a living over the past 30 years, and during that time, I've encountered countless "trader advisors, " "market gurus, " and "trade like Chuck" types. Out of all of them, I must say you stand out as the very best I've ever seen.

I've been a subscriber to your option room for several years now and have learned so much from you, especially when it comes to managing losing positions. Your ability to turn those situations into winning or low-loss outcomes through adjustments to multi-leg option spreads is where you truly shine. You've taught me how to take what seems like a significant loss and transform it into either a small loss or even a nice gain.

While I rarely follow your exact trades, I’m in your room every day, quietly listening to your insights and thoughts as the trading day unfolds. Your perspective has been invaluable.

Thank you again, and I hope you and your family are staying safe amidst the devastating fires in Southern California.

Best regards,
SG :)

[XennialTrader]

I'm surprised you didn't mention that the election gal was finally filled in SPX on Monday.

[Sam-kdjr]

Love your style charts are off the cuff appreciate all your work 👍Costco too the moon 🚀

[XennialTrader]

VIX and TNX are already percent figures, it's weird to quote them in percent changes.

[stefanopavesi]

Peter, just out of curiosity, why don’t you analyze the chart of the Russell?

[fredrahbar]

Thank you Peter, could not agree more …
Previous Friday and last Monday we did get the reversal as My 💎 BRK B flushed to $440.10 added at low Gift 💝 to break 50 ema

Summation index and Sentiment index reversed

My second Best 💎 SMMT $19.29 took out $18.50 and 50 day $18.75 started the up trend now we look to $19.49
And BRK b to take out $480 and finally $491.67 November 27-2024 high’s
Quite constructive, stock pickers not all across the board 🕵️‍♂️PG 192🎱+ the un known 🌀 🌀🔥 = $435 bill 💸 ion so 💛to move by March $2, 800 to $3 k …

[alantownson]

Hey Peter - this was for me your most useful weekend review, with fully relevant content, clarity of speech, and clear charts. There are several weekend stock reviewers but today you have catapulted yourself into pole position. Thanks

[robertschlemmer]

Despite the impressive rally in the NDX cash, the jury is still out on whether trend is broken on the downside IMO..
With great respect to Peter, the weekly chart on the NDX shows an engulfing pattern (negative outside week at the ATH high, week Dec 16th) which foretold the selloff.
Then the week of Jan 6th yet another negative outside week. Higher high than previous week but closing lower than the previous week.
The strong rally this week failed to break last week's high of 21, 703. Until that is broken the down trend is still intact. The strong close to the week may have been triggered by massive expiring put options for Jan 17 expire.
Dealers were hedged short for the large open interest on the puts and were covering those shorts Friday the 17th.
To Peter's point, next week will be very important as to the direction of this market especially the NDX.
Two negative outside weeks so close to each other (within 5 weeks) may be indicating more serious structural weakness in this market yet to be resolved. Best to all.

[haasii]

YouTube really needs to do something about all the spam on all the finance related channels, it's insane

[costaskalioras]

Thank you Peter, great video as always. My only concern with AAPL and NVDA is, there are close to 100.000 mutual funds that own both of them. Is there anyone left that does not own and will buy them to drive them back up?

[Annette_Lisa]

Basically, I just made my first $300, 000 in crypto trading. years of grinding, pivoting and failure, ideas not working out multiple consecutive times, depression, anxiety... but oh man once I saw the balance was over 300, 000 - it really made it clear that all those years were worth it and has paid off. Looking forward to achieving financial freedom soon. And by the way, awesome content!

[samlyda]

What has happened after the last 6 pullbacks from APPL....it turned around to new highs, every time. So your saying APPL could go lower and then it will hit a new all time high, then....

[darrell]

Thanks for the AAPL review going over recent dips

[tanleproe]

Look out!! The FOMC will meet on 1/29. Apple will report earnings on 1/30. The Jan job report is 2/7. Scoop Apple when it goes under 30% of its own daily RSi. The Dow Jones computer hardware ($DJUSCR) index's daily chart resembles Apple's price action. Apple's MACD has nearly reached the bottom of the histogram. First buy of Apple is next week. I want to see a higher low before buying Apple again. And again by Valentine's Day. Good luck to all.

[CitizenJourno-]

Long time Peter... cheers... Craig G
Still into the disco?

[pogster]

As always, thanks for your excellent analysis Peter.
I'll be surprised is the /ES goes any higher than 6100 before heading back towards 5800 or even 5700. In fact, if you discard the tails, it could just make a decent dump down next session, as big money always makes the reversals on the peek above a channel or resistance level.
This market is a scalpers market, and run by algos.

[arthurchianese]

Another good presentation, thanks for your hard work!!

[javigarciayt]

Missing the Dow on the index it helps for review

[blackdiamondoffthegrid]

Thanks Peter! It's a vary informative stream. You have a Great Weekend, see you next week!