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Apple Today - 1/11/2016 (AAPL)

seymour_greenz • January 11th 2016 10:12:50 AM

Good Morning,

Welcome back from the weekend. NASDAQ Futures are up 31 with +31 Fair Value, Dow Futures are up 112 on this Monday ex-OPEX. "Despite" a further significant plunge in China stocks and 12-year lows in oil, Futures have achieved green and are improving as we approach the open.

Asian markets tumbled today. China led the decline down 5.33%, Hong Kong closed down 2.76% while Japan dropped just 0.39%. European markets are up across the board. The UK is currently up 0.37%, Germany is up 1.02% and France is up 0.85%.

Commodities are mostly down this morning. Oil is currently down 1.18%, natural gas is down 1.42% and gold is up 0.52%. Unleaded gas is up 0.67% and the rest of energy is down. Metals are mixed with gold and silver up, platinum and copper down. Meat is down except for lean hogs. Cocoa, coffee, corn and soybeans are down, wheat is up.

Weekend data in China provided more evidence of slowing economy. Consumer prices rose by 1.4% in 2015, the slowest pace in six years and below the government's 3% target, according to state news agency Xinhua. Oil is near a 12-year low hit last week.

After the bell this afternoon, look for earnings from Alcoa (AA), Limoneira (LMNR) and VOXX (VOXX). Tomorrow morning earnings from Tata Consultancy Services (TCS) are expected.

AAPL had a tough week, dropping over 8 points, nearly 8% and losing the key 100 level. Basically, the entire week was one daily decline after the next, around 1%-2% per day. When it appeared that AAPL could catch a break and recover towards the end of the week was when AAPL continued dipping and ended the days with further disappointment for longs. On Friday, AAPL opened up strong on high volume and made a break for 99, peaking at 99.11 at 10am on high volume before conceding and heading back to 98 and then dipping as low as 96.76 at 11:36am on high volume before sprouting back towards 99 again and reaching the upper-98 area by 12:10pm on high volume. Again failing to hold, AAPL dipped below 98 in mid-afternoon trading and dipped to the intra-day lows toward the close, threatening to lose 97 in the last moments. Though the intra-day action was disappointing, AAPL managed to hold onto a gain of 51 cents for the day, closing up at 96.96. AAPL gained 9 cents in after-hours to peek above 97, ending up at 97.05

This morning in pre-market, AAPL opened higher in conjunction with Futures and a strong update to Apple Music subscriptions. AAPL opened up in the mid-97 area and held on there until mid-morning where AAPL pushed up above 98 and into the mid-98 area. AAPL is currently up 1.61 at 98.57.

Classic max-pain is 110.

Chinese volatility hits oil, metals:

Oil still in a pretty sticky spot:

Alcoa gets $1.5 billion supply contract from GE's aviation unit:

Starboard pressures Macy's for real-estate deals:

Apple testing 3 designs for iPhone 7:

Apple has been undercounting Apple News traffic:

Apple working on iOS-to-Android migration tool:

Microsoft, Samsung and IoT:

BlackBerry Priv and Android 6.0 Marshmallow?

Meet Xiaomi's Redmi 3:

Indian regulator to Facebook, "stop spamming us":

Like peach?

A VR story:

Ford Fusion V6 Sport:

Tesla autopilot?

Ford's new car app:

NASA spots an X on Pluto:

"Naked" black hole:

1st light from a black hole:

NASA creates asteroid protection office:

Can Philae be saved?

Mountain lion discovered with extra set of teeth and whiskers on top of head:

More on the "Human Age":

Illumina, partners make $100 million bet to detect cancer via blood test:

Zuckerberg’s vaccination photo with infant daughter spurs "controversy":

If possible, avoid sugar:

Tips for better sleep:

How VR saved a baby girl's life:

Today's Economic Calendar:
10:00 Labor market condition index

Notable earnings after today's close: *AA*, *LMNR*, TISI, *VOXX*

And tomorrow before the open: IHS, *TCS*

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