• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing

Apple Is Going to Drive Overall Market Direction Today

We have to wait for APPL's 1:00 pm ET event before we have a better feel where things are headed.
By JAMES "REV SHARK" DEPORRE
Mar 25, 2019 | 11:16 AM EDT
Stocks quotes in this article: AAPL, T, AEM, AXSM, NFLX

Friday's weak action has carried over as the primary focus of market players remains on the inverted yield curve. The Mueller report has received much attention but doesn't seem to be having much market impact. The political battles will remain heated regardless of greater clarity as to what occurred.

Apple (AAPL) has been leading the action today. It reversed after the open as some market players anticipate a 'sell the news' reaction to its new product and service event at 1 pm ET. It is well anticipated that Apple will be announcing a news subscription service as well as a TV streaming service. There is plenty of competition in the content area and there are some analysts that are skeptical about how well Apple well compete with the likes of Netflix (NFLX) and AT&T's (T) Time Warner.

Technically Apple is set-up in basically the same way that the S&P 500 is. The stock has had a great run off the lows at the first of the year and is now hitting resistance at its 200-day simple moving average. There isn't much nearby support but it is a stock that will always attract big institutional money that needs to put capital to work when they are fearful of missing out.

It is likely that analysts will be upbeat about Apple's new offerings and we should see some target adjustments tomorrow. However, today it is mainly about traders trying to anticipate short term reactions to the event at 1 pm ET.

Overall market action is poor with breadth running about 2000 gainers to 3600 decliners. New 12-month lows exceed new highs. There is some strength in gold and Agnico Eagle Mines (AEM) is performing well. My Stock of the Week is Axsome Therapeutics (AXSM) and it's performing very well so far. I've taken a few stops and have cut my long exposure so far but there are some pullbacks that are starting to look enticing.

Apple is going to drive overall market direction today and we have to wait for the 1:00 pm ET event before we have a better feel where things are headed.

(Apple is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL? Learn more now.)

Will You Have Enough Money to Retire?

Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, James DePorre was Long AEM, AXSM.

TAGS: Investing | Markets | Stocks | Trading | Semiconductors & Semiconductor Equipment | Software & Services | Stock of the Day

More from Investing

Rotation Is No Reason to Turn Away from the Markets

James "Rev Shark" DePorre
Jan 21, 2021 4:45 PM EST

Bears may fuss over the routine consolidation combined with rotational action, but here's how I look at the moves.

Jim Cramer: Housing Is Our Bridge

Jim Cramer
Jan 21, 2021 3:59 PM EST

Do not fear the housing sales boom -- this is good news and I'll tell you why.

Cord-Cutting FuboTV and Advertising Platform PubMatic Are Not Buys Here

Bruce Kamich
Jan 21, 2021 2:59 PM EST

Our look at the stocks of both FUBO and PUBM.

Jim Cramer: You Just Won Powerball, Now What?

Jim Cramer
Jan 21, 2021 2:24 PM EST

Remember, you only need to get rich once.

Here's the Beast and Beauty of Investing in Disney Now

Bruce Kamich
Jan 21, 2021 1:54 PM EST

DIS might suffer a pullback in the next several weeks, but longer-term a rally is possible, according to the charts.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 11:16 AM EST CHRIS VERSACE

    Worst Stocks to Buy for the Biden Presidency

    Biden's take on the minimum wage, likely moves on ...
  • 08:35 AM EST GARY BERMAN

    Thursday Morning Fibocall for 1/21/2021

    SPX (Long-Term View) The 1/20/21 NEW high @ 3859...
  • 11:38 AM EST CHRIS VERSACE

    Best Stocks to Buy for the Biden Presidency

    President-elect Biden's massive stimulus plan, int...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login