Market Analysis (30 March’21)

Major U.S. stock indexes pulled back Tuesday as investors sold government bonds along with shares of technology companies that had powered higher in a low-yield environment.

TREND ANALYSIS

Both daily and weekly Heikin Ashi charts paint a very mixed picture — while S&P500 and Dow Jones are in the uptrends, the Nasdaq and Russell are in the downtrends.

Key Indices, Daily charts

Key Indices, Weekly charts

FUTURES PRICE LEVELS

S&P500

Key pivots: 3970 and 3900

ES, 1h

Nasdaq

Key pivots: 13000 and 12700

NQ, 1h

AAPL AT THE CROSSROADS

The AAPL shares have been consolidating in the $115 and $125 price range since early March. Technically, the price has formed a Symmetrical Triangle over the last several months. If AAPL can break above the $125 resistance in the near future, we might see a renewed interest in this mega cap stock among market participants.

AAPL, daily

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