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Good Sunday Afternoon, MPTraders! Last Thursday afternoon, ahead of AAPL's Earnings, this is what we discussed about the stock's probable price path in reaction to the news:Unless AAPL produces something extraordinary, or otherwise announces some unknown bullish catalyst, my pattern work has a very difficult time expecting anything other than a "best-case" sell-the-news scenario in reaction to Earnings. I can make a compelling argument that the upleg from the 6/26/26 low at 273.33 to the 7/29/26 ATH at 344.
Desk Note: ES + NQ into End of SummerWe’ll leave with this: this week’s current low on ES+NQ will be very critical moving forward as we wrap up the rest of summer.
In Case You Missed It…As expected, it was not a boring week for equities or volatility. Excluding the broad-based short squeeze seen on Thursday, the equity indexes remain out of sync with each other. I have never seen this condition last this long. It portends more choppy, sideways, price action and the word I have been repeating for months now: indecision. To that end, we are still trading around the Gamma Threshold level and have yet to establish a true long- or short-gamma regime.
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