Just a couple months ago, Apple Inc. (NASDAQ:AAPL) would open higher and climb all day long. Those days are long in the past as even today, Apple finds itself struggling to keep the gains from the morning session. In dramatic fashion, the stock opened slightly higher, and surged, gaining over $12.00 on the session.
Next 24 Hours: Markets Hold Breath For Apple And FOMC
The markets are floating around the flat line. All eyes are focused on the after market earnings release from Apple Inc. (NASDAQ:AAPL) and the FOMC policy statement scheduled for Wednesday. This is keeping investors very nervous as worries of an iPhone sales miss is looming large. In addition, the markets are looking for Ben Bernanke to give a hint at future quantitative easing once again.
Apple Inc. (NASDAQ:AAPL) has surged dramatically higher today. In the first few minutes of the trading day, Apple dropped to a low of $571.91. Since then it has soared back, hovering just below $600.00. Should Apple continue to move higher, the next shorting level will for an intra day trade will be at $604.25.
See It Here: NASDAQ 100 Hits Technical Level, Bounces
The markets surged higher as expected today. This was a result of a technical level hit on the NASDAQ 100 yesterday when the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) tagged a low of $65.25. This price happened to be the 50 moving average on the daily chart. Based on the dramatic fall in stocks like Apple Inc.
How To Trade It: Technology Tumbles, Europe Fears Go
The markets opened nicely higher only to get slammed once again. Last week the markets saw their largest decline of 2012. The down cycle called by Chief Market Strategists at InTheMoneyStocks is fully in play. European worries continue to increase and technology has seen a sharp pull back from its recent highs.
The markets are having a solid snap back rally. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $137.08, +1.24 (+0.91%). A bounce like today is largely expected by intelligent investors as the buy the dip mentality is still alive and well. In addition, European markets did close higher on the day, thus giving the U.S. markets a sigh of relief. The earnings report from Alcoa Inc.
The markets are selling sharply today. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $137.94, -1.84 (-1.32%). This drop is mostly a result of the Non Farm Payrolls data from Friday. It showed far less jobs created in the month of March. The markets were closed on Friday, thus the reaction today.