Thursday, October 25, 2012

Market Review: Apple Will Move The Needle Tomorrow, But How Much?

The markets were modestly up today but there was nothing particularly note worthy today.  This week has been about stabilizing the the downtrend after most of the indexes rolled over last week.  But there is something to be aware of tomorrow and that is Apple's earnings.  As of right now this is the headline on Market Watch.
 
 Apple Results Miss Targets
" Apple Inc. reported a 24% jump in earnings for its fourth fiscal quarter on Thursday afternoon, though the results fell short of investors’ expectations given a slowdown of iPhone and iPad sales ahead of major product upgrades."

This could be very impactful tomorrow, especially for the Q's as Apple makes up 20 % of that index.
So one way or another Apple may have an impact to the upside or downside.  So keep an eye on $65 for the Q's if it slices through the support the the next support is around $62.50.

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