Tackle Today Stocks in the News - AAPL / ORCL / ASO

tackle today Matt and mark justce from tackle trading bringing you all of the charts the news the analysis so that you can know what is going on in the markets in a concise manner markets continue to uh battle it's just a genuine battle right now between the Bulls and the Bears this week as we get going certain moving averages acting as support others acting as resistance uh and these are the type of technical battles that occur every once in a while where there is you know a little bit of indecision isn't there Matt yeah we're fighting for a little bit of confirmation in in off of bullish retracement in RSP and the simple reality is confirmation could be tough the same way breaking out of resistance can be tough these are intraday resistance levels and uh at the end of the day resistance is hard to break and so you're just kind of hovering right there against the N 90 Ma on RSP yesterday's candle sniff the high of the previous day's candle the same way this did here today so you you're definitely seeing a bid in the market much more than we did last week and you're definitely seeing a little bit of support getting built but you have to see confirmation nothing nothing works technically unless you do see that confirmation but we are seeing that bid come into the market that we did not have last week and that is a good uh a good reprieve for the Bulls now do they have an opportunity at this low Point that's going to be about confirmation here uh on RSP when you're looking at the spiders themselves uh very similar type of price action over the last two days fighting overhead resistance right there at that 550 level that it just broke out of last week when it broke that uh level last week we saw a massive volatility to the downside good 10-point swing to the downside that was one of the biggest days we've seen in the market and so when you broke that level look what occurred and so again resistance just is going to be a little bit tough to break and you probably are waiting on uh the the most important data points at least the market is waiting on the most important data points this week and that has to be the debate later on tonight uh which which Maybe the only debate between the two presidential candidates and then secondarily CPI report in the morning yeah no and and these moving average battles they they always fascinate me moving averages play a huge role of our analysis of understanding short-term price action something we do very well at tackle trading and respect those falling moving averages uh in the short term eventually they work themselves out but they as you said can be tough to break Matt you stated the next 24 hours are going to be some of the heavier 24 hours of this particular week as we have the presidential debate as we have the CPI uh data that comes out tomorrow morning pretty light economic week overall we had a small tidbit of uh economic data came in a small business index which measures uh small business uh sentiment basically thinking of as consumer sentiment for small businesses missed came in under expectations but came within the same general range that sentiment has been for the last couple years it's nothing really dramatic uh we could see more dramatic data uh the next couple days uh as we get into the bulk of the economic data itself uh anything to look at at the chart here Matt no I it's not that the small business index is not an important report it's just not an important report for the market today yeah absolutely uh but there are individual stock news that are very Just One Last point on that real quick here Chucky it's again economic reports it's going to depend on the EnV en these economic reports are are coming in it's going to depend on on kind of what the theme is that the the Market's focusing on right there and we're having a macro moment right which means macroeconomic numbers are really really really important obviously economic economically sensitive ones the small business index just isn't there it's an important one it's just not on the macro side yeah absolutely uh listen uh there are individual stock stories as I was saying though that will be very important some interesting names today uh on the ticker symbols certainly some uh and a good earnings report out of Oracle I was really interested to hear your take on it's uh it's its numbers yeah Oracle uh was probably the most important news of the day here today Apple had its uh Apple EV van from yesterday where they unveiled the iPhone 16 and all the AI capabilities of the iPhone 16 but simple reality is Oracle reported numbers here today and uh when you when you when you're Oracle and and you're looking at these numbers here today today a decent beat on EPS little six cent beat on EPS Revenue also beat they did incre uh reaffirm forward looking guidance no hatrick treatment but they had some secondary news that was really really really good for for Oracle as well and that was a partnership with AWS that's Amazon's AWS and so Oracle gets that bid coming out of AWS they get a beat coming out of the actual earnings results as well and outside of that they also get a little bit of the Gap up treatment as well when you're talking about a beat on EPS beat on Revenue reaffirming forward-looking guidance and then they landed deal with one of the big Wells of the marketplace that's uh that's going to be news the Market's going to love to hear and we're talking about an all-time high breakout at that point and so from a Traders perspective you you certainly don't want to chase uh big uh big gap up type scenarios you want to let let secondary pattern analysis kind of work themselves out you got to be looking at Oracle as a breakaway Gap because you had some degree of neutrality going into the earnings analysis and then you broke out of that neutrality you tried to run away from it which could have a little bit of runaway Gap uh situation to it as well regardless of a runaway Gap or a breakaway Gap I do have it labeled as a breakaway Gap you're going to look at a secondary pattern and if you clean up 160 that's going to be a high base you retrace back down into 150 you're going to treat that as a little bit of a retracement here so secondary pattern watch for Oracle definitely now the second earning story of the day was ASO and uh that's tackle 25 ASO and ASO came out with the Miss they missed on EPS they missed on revenue and they dropped forward-looking guidance and so uh the opposite of a hat-trick we like to call tackle trading uh ASO uh they took the they picked up the bat Mark and they they they they didn't they did swing they did swing but they did not connect here on their actual earnings but what was interesting is that we didn't see despite the negative I I find this fascinating he did not see a gap down in a retail stock and I cannot I know this is a fascinating chart to me I cannot say how how different that is in in recent history Mark we've been dealing with some retail stocks Matt I cannot remember for months and months and months a ret yeah a retail stock that miss miss miss and wasn't punished like epically like no and and and ASO missed here they dropped guidance here and they didn't even gap down now there wasn't going to be a lot of time in front of the the market open they reported this morning but still an interesting uh an interesting little tidbit that a retail stock in an environment where retail stocks have either gapped up gapped down and it has been fully based on guidance ASO drops Guidance just Tad don't drop the price that's interesting to me uh quite frankly about what the market is this week in comparison to what the market was was last week last week it did not matter what the company reported it was sell first ask questions later the bid came into the market coming off support yesterday kind of holding in a little bit today ASO holds in today again it's not exactly rip your face off break out of resistance but it is a slight change of behavior over the course of the last week from an earnings uh from an earnings perspective and then the third stock story here today um was obviously apple and apple had two things over the last 24 hours number one apple had their uh uh their Apple event where they unbuild the iPhone 16 and all this new product offering that Apple does literally every single September and on Q Apple put out this magical uh just amazing visual creation of what this iPhone is going to be because apple is a really good marketing company and and and that that leads me to ask the question you know is there a super cycle potential uh regarding the iPhone this year that we have not had in recent years uh in fact uh quite a few years uh regarding an a a super cycle now the anticipation on Apple is ai ai ai but the problem a little bit is they delayed some of the features with AI for this phone which will not be ready on release and so it's it's there's an open question regarding the super cycle but a good step in the right direction for apple and the development of the iPhone with apple intelligence uh honestly and then obviously yesterday selecting arm to provide some of the AI capabilities from a chip perspective as well so good news on that front but on the negative front here the EU did uphold a 13 billion doll tax bill today and that's obviously subduing any of the price action here on Apple but that's all we got for stocks in the news today Hey listen I've watched enough mafia movies they need to come knock on the door they need to collect their money EU Mafia yes that's that's exactly the EU Mafia they're coming for their uh their pound of Flesh yeah listen we got to offer you protection here takes you know we we need our payment though so uh listen dollar continued to show ahead of the CPI report interesting little strength we've commented on this in the newsletter we commented on this yesterday continues to develop other Commodities crude oil Under Pressure uh copper Under Pressure gold basically hanging against range uh break down the charts for us Matt yeah the chart here is really really simple to understand you got massive support at 100 by 101 that's that's really the conversation from a technical perspective and it's so important that despite the massive downward movement in price we've been talking potential reversal here on on the dollar just because this is a pattern that's been dominant for two consecutive years now uh up to 106 down to 101 up to 106 down to 101 so is is anything going to change maybe maybe and that question probably go at the strength of the economic reports in in over the course of the next month or so but I also think there's there's there's something happening on the dollar from an interest rate perspective as well and right now they're having a debate whether they're going to get a 0.25 or a 0.50 cut coming up next week and and and the probability has shifted to a 0.25 cut because and quite frankly I think this is is is probably smart a 050 Cup May signify a little too much economic weakness whereas a 0.25 cut will signal a little bit of alleviating the inflationary conversation or or or the restrictive conversation and so and and the probability has shifted to a 0.25 cut for that for that reason quite frankly the economic data in the last week has not been terrible GDP was good um obviously we had some misses on the on the PMI side of the equation we had a mixed report on the labor side of the equation and so it's it's going to be interesting that what what URS with the interest rate but at the end of the day this is a support conversation more than anything as of right now and as such as as the Dollar's kind of fighting a little bit of support gold still hanging in there between 2500 and 2570 and quite frankly this is one of the tightest short-term neutral ranges I've seen in gold in a long time quite frankly man I the these long monthlong consolidation tight ranges at top of charts are very rare they're very rare yeah like gold doesn't do this well nothing does it for a month specifically gold which tells you but tells you something is go something is going on here and you know for us it's the the the story of 2024 it doesn't want to sell it doesn't want to sell like investors don't want to sell Central Bankers don't want to sell institutions don't want to sell because regardless of the analysis we're going into a pause I mean we were going into a pause and and Mark you remember when we were talking about that pause and what the probability of gold price movement was it was up up up and and as we went through that pause we got that up up up up up now guess what the probability of a rate cutting cycle for gold it's up as well I just I I but the reality is like there's just nobody that wants to sell their gold positions and it's uh it's interesting I don't know if there ever is going to be anybody that wants to sell their gold positions unless the CME increases margins and so I just don't think we're at that uh that stage of this conversation as of right now I'm not sure the EU want uh excuse me the Central Bank wants to uh see that margin conversation go up on gold ownership and so gold uh just a lot of confidence in Gold but again just still hovering against that uh neutrality in the short term really good obviously bullish conditions in the intermediate to long term on the on the industrial metal side of the equation we're tracking silver a little bit of that $28 support bounce we're tracking this as a a as a head and shoulders formation and kind of that Catalyst we're looking at is that trend line we have from the 32 connecting the 30 pivot so keep an eye on Silver it's trying to find some bottoming action but it is not ready for prime time and neither is copper quite frankly and that's what we got on the commodity side of the equation there yeah listen uh come join us at tacket training.com we have a fantastic Community we have 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