We’re about an hour and half away from the close on Thursday and the DOW is down over 500 points while Apple shares are trading 9% lower on the day. This is one of the worst days tech has seen in a while and the way global economics are heading we could see some more pain before things turn around.
Apple cut revenue guidance for the first time in 15 years on Wednesday after the close that rattled global markets into a selling tailspin. Apple CEO Tim Cook blames a sluggish China economy as a result of tariffs and a strong USD.
Taking a look at the monthly chart above, you can see we prices are coming into an important pivot level at $135. This will be a good area to watch for a bounce if prices continue lower over the coming days.
