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](https://cdn-news.warriortrading.com/wp-content/uploads/2019/01/03142840/AAPL-stock-chart.png)
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.