The NASDAQ 100 fell -1, 54% this week, which reflects the considerable weight of the Apple in this index and its great dependence on and affinity with the movements seen on the Apple. If the Apple continues to drop, the market will be unable to rise because the NASDAQ influences the remaining indexes.
The Apple support lines have been broken, which is a bad sign.
The Apple fell the last four consecutive weeks, which does not happen often. Since 2009, this is the third time this happens.
In the last two times, the market has recovered very rapidly.
The MSCI All Country World Index Fund continues to have higher lows and the SPDR S&P 500 ETF is close to the 50 days moving average where, since June, has reacted positively.
This weekâs poll of its members by the American Association of Individual Investors is at 44, 5% bearish, only 28, 7% bullish.
The traditional interpretation of sentiment readings is contrarian, meaning that AAII Investor Sentiment is giving a possible bullish signal.
It is difficult to predict what will happen, but I still think that the market will rise.