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Apple Today - 8/19/2016 OPEX (AAPL)

seymour_greenz • August 19th 2016 09:30:40 AM

Good Morning,

NASDAQ Futures are down 16 with -16 Fair Value, S&P Futures are down 8 with -9 Fair Value and Dow Futures are down 56 as we close out the week just below all-time highs with OPEX pending. Futures were up in early morning but took a sharp dip at 3am, found a bottom just after 4:30am and appeared to be bouncing back but have since slipped again and are now at the lows as we approach the open.

Asian markets ended mixed. China went up 0.13%, Hong Kong dropped 0.37% and Japan gained 0.36%. European markets are down. The UK is down 0.22%, Germany is down 0.67% and the France is leading the decline, down 0.99%.

Commodities are universally down this morning. Oil is down 0.23%, natural gas is down 1.46% and gold is down 0.69%. Unleaded gas is down 0.82% and heating oil is down 0.51%. Metals are down. Meat is down. Cocoa, coffee, cotton, corn, wheat and soybeans are all down.

European shares, oil ease as markets return to Fed-watching. IEX exchange opens.

Applied Materials, Inc. (AMAT) reported Q3 results yesterday afternoon with forecasts that smoked expectations and and is up over 5% in pre-market. DeVry Education Group Inc. (DV) announced a Q4 loss that topped expectations and is up slightly. The Gap, Inc. (GPS) reported Q2 results that beat expectations but cut outlook and is down nearly 2%. Ross Stores, Inc. (ROST) announced Q2 earnings that beat expectations and is up over 2.5%. New York & Company, Inc. (NWY) is up over 17% after reporting Q2 results that beat expectations and strong Q3 guidance.

Foot Locker, Inc. (FL) reported Q2 earnings this morning that beat expectations and is up over 4.5% in pre-market. The Estée Lauder Companies Inc. (EL) is down over 3% after beating Q4 estimates but a reduced forecast. Deere & Company (DE) announced Q3 earnings that beat expectations and is up ove 4%. Cheetah Mobile Inc. (CMCM) reported Q2 results and is down over 2.5%.

AAPL's heartbeat pulsed wildly above the 109-line yesterday, ending down slightly by 0.13%. AAPL opened at 109.22 to high volume and quickly surged up to the mid-109 area on moderately strong volume, setting an intra-day high of 109.6 at 9:35am on moderate volume before dipping to the low-109 area within 30 minutes. AAPL bounced just after 10am on moderate volume and pushed up over the morning, returning near the highs just after 11:30am. However, after lunch kicked off, AAPL sharply dipped to a low of 109.03 at 12:38pm on moderate volume before bouncing back into the green over the course of the early afternoon on low volume. After 2:30pm, AAPL picked up and once again pulsed up into the mid-109 area just before 3:30pm before taking a sharp dive to the red into the close on relatively high volume. AAPL ended the day down 14 cents at 109.08 and added 13 cents in after-hours to 109.21.

This morning in pre-market, AAPL opened lower at 109 in conjunction with Futures and aside from a low volume dip into the upper-108 area has held that line in a remarkably narrow and light trading range even as Futures have slipped and bounced around. AAPL is currently down 3 cents at 109.05 as we approach the open.

Classic max-pain is 105. Today is OPEX. Have a good weekend with your friends and family.

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