AAPL Trade on Oct 1, 2019 09:31 from J_Matrix: Tradervue User Stock Trades.

2nd Day Play on $AAPL

Big Picture:
-- Stock market loses more than 1% after the ISM Manufacturing Index for September unexpectedly declined further into contraction territory -- worst reading since June 2009
-- All 11 S&P 500 sectors finished lower; weakness in growth-sensitive areas
-- S&P 500 closed below its 50-day moving average (2948)
-- Treasury yields fell, oil prices declined again, gold futures rose

Intraday Fundamentals:
-JPMorgan upgraded $AAPL on Sept 30 2019 giving it an overweight rating and up'd their target price.
-RVOL elevated and trading with market interest premarket
-ATR 4.14
-Inst. Own 61.20%

Technical Analysis:
-$SPY closed on Sept 30th near the top 25% of it's range forecasting a high probability of a gap up premarket. +
-$Spy gapped up and holding above yesterday's close indicating an upbeat open on Oct 1st. +
-$AAPL closed on Sept 30th near the top 25% of it's range forecasting a high probability of a gap up premarket. It also closed above a key price of $223.75 from Sept. 11 and Sept. 19
-The next level of resistance on $AAPL is $224.80, the opening price of Sept 12.
-$AAPL gapped up premarket and HOLDING ABOVE $224.80 essentially it's premarket low.
-$AAPL has a 52 wk high at $226.40

Thesis:
-Watch the tape for a pull in and hold at the open into the premarket low $224.80
-If $224.80 holds, get long, target 226.40 risk 224.50+/-
-Peel off into vertical price action.
-reason2exit, If price shows topping action or slowing of momentum. If price is no longer able to make higher lows.

When the news of the ISM Manufacturing numbers hit the tape at 10am causing $SPY to pull hard, $AAPL pulled as well and that was when I decided to flat to protect my self from a correlated sympathy pull.

I tried to put a tester trade back on $AAPL at 1035am to see if it has enough buyer's interest to create divergence from $SPY. Stopped out.

Waited for price to cleanly break above VWAP and hold to confirm the next entry for yet another long at 11:25am. Unfortunately it didn't have any follow through. Scratch.