SPY needs close above $253 to break rounded top pattern.
QQQs have 21 EMA on deck as next level of support.
Jury verdict is out on the new iPhone13, Watch and other devices by Apple Inc, ($AAPL LTP $148.12) unveiled on Tuesday afternoon. In the gloomy market for the last few days, it was a significant opportunity for a turning point. In the morning $AAPL shares were in fact in the positive carrying the broader tech index Nasdaq and the narrower Dow riding along with it. But as the day progressed and the launch happened, the market took a decisive nosedive to end the day in significant red. As a ray of hope buyers returned on the $AAPL counter in the last half hour but by then the damage was done. From this point on, the stock appears to be on further downslide after its recent all time high at $157.26. The next support level is at $145, but if it is breached then the following support is only at $135.45. It has already breached the 50day EMA and the earnings are well 6 weeks away. The RSI, Stochastics and MACD all are in nosedive for the time being.
On the other hand, if the stock finds support at $145 then it may try to push up once again to reach towards $149 levels which is where the 50EMA is.