GMI goes to 0 (out of 6); $AAPL very sick, along with $CMG; Cramer has a $FIT

GMI0/6
GMI-20/8
T210827%

Tuesday was the second day of the new QQQ short term down-trend and the GMI has hit 0………..

With the apparent completion of a head and shoulders top pattern for AAPL, a decline to around $80 is likely. AAPL has also now begun a BWR down-trend with all of the shorter averages (red) now declining below the falling longer term averages (blue). For me, AAPL is a short or at least a stock to avoid. It is about to join the ranks of CMG as a broken stock, at least for now. I only buy stocks in RWB up-trends. Note the difference in the AAPL pattern, before versus after the summer began.

AAPLGMMA

And here is CMG.

GMMACMGAnd yet the CNBC pundits tonight were debating whether one should hold AAPL. A picture is worth a 1000 words. There is no reason for me to hold a stock in a BWR down-trend other than masochism or financial suicide.

And before the open on Tuesday, Jim Cramer was talking up the virtues of FIT. The stock fell more than 18% during the day. Beware the media pundits!!!!!

FIT

 

1 thought on “GMI goes to 0 (out of 6); $AAPL very sick, along with $CMG; Cramer has a $FIT”

  1. AAPL is not the king of the jungle, and does not dictate direction of Market !! while AAPL goes down, there are others going up such as EVR, JBT, etc

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