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Good Morning! Monday’s trading saw markets finish near or above Friday’s highs, setting up a potential green open today. Both the QQQ and SPY are close to short term technical breakouts, with the $423 area on the SPY being yet another all-time high.
Apple is always a good stock to watch. Depending on your style and risk tolerance, trading it may or may not be in your routine. But it’s always worth a watch. As companies move out of having just one product or being in just one sector, companies like Apple or Amazon become as much economic indicators as stocks. What was once just a niche hardware company is now a hardware, software, tel-com, credit card, subscription services, and chip making company. Whether your “Team Android” or “Team iOS”, it’s impossible to deny how impressive the Apple ecosystem has become. From a technical perspective, AAPL has held the 200 SMA over the past month and now looks poised to make a run at the 50 SMA. It’s been less impressive than its tech peers of late, still $20+ off all-time highs. Seeing APPL, AMZN, and others rally with the markets could set up a “summer of the bulls.”