Breaking down AAPL in the wake of “Peek Performance”

The new product line shows us the future of the company

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How’s it going?  As I’m sure many of you are aware, Apple had one of its big expo events on Tuesday, this one called “Peek Performance” (that’s not a typo, it’s an intentional play on words from the gang in Cupertino) Tim Cook took the stage to reveal all the new and exciting products the company is producing, including the green iPhone 13 pictured above.  Apple showed off a new iteration of the iPad Air, the new iPhone SE featuring 5G capability, and the eagerly-awaited Mac Studio and Mac Studio Display.  The biggest surprise of the event may have been what it didn’t release, and that was a new version of the Mac mini or Macbook Air. On Wednesday, the whole market shot higher, so it’s difficult to know whether the positive trend in AAPL was due to the event or due to relief in the market as a whole. But AAPL shares certainly did climb, gapping higher and climbing 3.5 percent on the day. This price action leaves the stock nearly dead-center of the tight compression mode it's been in since Feb. 25.  Expanding the picture out to the start of the year, Apple is currently trading in the lower third of 2022’s trading range, as defined by January’s record high of $182.94 and late February’s low of $152. That leaves us waiting and wanting a little bit more information before we think about jumping into another AAPL trade, which is an important reminder for us:  Events like “Peek Performance” generate a ton of headlines about  AAPL. They’re big and flashy, and if you’re a loyalist to the product or just a tech geek in general, they’re a lot of fun, too. But they don’t control the market. They might move the needle temporarily (although today it’s hard to tell), but the effect will never last. Price will still be in control. And I will always judge price with the key indicator and the confirming indicator that power the Perfect Apple Trade. On that note, you can join me LIVE tomorrow at 4:00 PM ET, market close, to learn more about the system and how I expect AAPL to respond in the current market climate. Sign up here to join me It might not be quite as flashy as “Peek Performance,” but I think you’ll learn a lot more valuable information. Hope that you’re able to make it out. Until then, trade safe!  RISK DISCLAIMER There is a very high degree of risk involved in trading. Past performance is not necessarily indicative of future results. DTI Trader and all individuals affiliated with this site assume no responsibility for your trading and investment results. All the material contained herein is believed to be correct, however, DTI will not be held responsible for accidental oversights, typos, or incorrect information from sources that generate fundamental and technical information. Options trading carries significant risk. Futures and futures options trading carries significant risk. 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