Today was a fantastic day for Apple! The stock fell hard to $126, however at the end of the day rallied strong back to $139. However, this is still down from the pre-earnings price of $155. The stock showed tremendous resistance at this level. Today created a V-bottom to the stock.

The stock moved in a similar way back in August 17th and again on Nov 12th.

The remaining indexes also rebounded nicely today. In previous recessions or bear markets, it has been the financial that lead the run to the next bull market. We saw the Financial Select Sector SPDR (XLF) lead us up from 25.21 to a close of 27.90 or a 10% rally.

So is this the bottom?

Maybe… only time will tell. However this does seem in the short term like we have reached one. Our call over the weekend in the posting Market Train Wreck, stated the predicted bottom would be S&P 500 ~1250 and Dow Jones ~11,200. Well the S&P500 dropped to 1,268.4 before rallying up to a close of 1,348.6 meanwhile the Dow sank to 11,638 before rallying to a close of 12,270. Looks like AppleOption has correctly identified a bottom for it’s members!

How the AppleOption Portfolios will utilize this information!

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