Apple Stock Consolidates Plunge Dragging S&P 500 Lower: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
Apple Inc's stock (NASDAQ:AAPL) fell by 0.7% on Tuesday, continuing a downtrend pattern that began on August 3. The drop was a reaction to stronger-than-expected retail sales data for July, which pulled the market lower due to Apple's heavy weighting in the S&P 500. If the downtrend continues, market volatility is expected to rise. Traders can use MIAX’s SPIKES Volatility products, traded on SPIKES Volatility Index (XMIO: SPIKE), to track expected volatility in the SPDR S&P 500 over the next 30 days.
August 15, 2023 | 5:45 pm
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NEGATIVE IMPACT
Apple's stock continues to fall, indicating a downtrend. If the trend continues, it could lead to increased market volatility.
Apple's stock is in a downtrend, which is a bearish signal. The stronger-than-expected retail sales data for July has negatively impacted the stock due to Apple's heavy weighting in the S&P 500. If the downtrend continues, it could lead to increased market volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Traders can use MIAX’s SPIKES Volatility products, traded on SPIKES Volatility Index (XMIO: SPIKE), to track expected volatility in the SPDR S&P 500 over the next 30 days.
The SPIKES Volatility products can be used by traders to track expected volatility in the SPDR S&P 500 over the next 30 days. This could be particularly useful if the downtrend in Apple's stock continues, as it could lead to increased market volatility.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50