To The Moon

US market opened the week higher as expectations of Fed policymakers not raising interest rates at their upcoming meeting in Sep 19-20 continues to crystalize (see below).

Interest Hike probability since 01 Sep 2023

• No change to traders’ factoring in a > 90% chance that interest rate will remain status quo for September 2023, according to CME Group's FedWatch tool.

When market called it a day:

(1) DJIA: +0.25% (+87.13 to 34,663.72).

(2) S&P 500: +0.67% (+29.97 to 4,487.46).

• Advancing issues outnumbered falling ones by a 1.5-to-one ratio.

• Monday saw 14 new highs and 11 new lows posted.

(3) Nasdaq: +1.14% (+156.37 to 13,917.89).

• Still shy of the 14,000 mark.

• The tech stocks index recorded 36 new highs and 199 new lows yesterday.

• According to Forexlive 1-hour technical chart, the key 13,850 resistance zone will be the deciding zone for Nasdaq (see below).

• With Nasdaq at 13,917.89 yesterday, it means index might correct itself on Tue, 12 Sep.

• Not unless there are compelling factors to drive it to new heights for the next few session, away from the resistance zone.

• Is it a coincidence that US pre-market indicators for Tue, 12 Sep 2023 is trending marginally lower (percentage) than Monday’s closing?

As I draft my daily discussion post, last minute preparation and another round of dry run, going through the presentation slides begin, to ensure a seamless showcase of what $Apple(AAPL)$ stands for (innovation, quality, enrichment to its user’s life etc…) is all about.

Without a doubt, CEO Tim Cook will kickstart the event before handing control over to product managers to make their case for the product/s under his/her charge.

Each product and its enhancements / improvements will tie back to how it would enrich the user experience and his lifestyle.

With a slick presentation, should investors jump and buy into Apple’s shares?

I would say with an emphatic “No”; not just yet.

Apple's Stock Price in September 2022

• Apple last year’s event was titled “Far Out”.

• It was held on Wed, 07 Sep 2023.

• It was also the first time that a mobile phone is able to tap on satellite services as an alternate telephony source.

• With the announcement, $Globalstar(GSAT)$ (the satellite service provider) stock price rocketed.

• Unfortunately, the same could not be said for Apple’s.

• I have zoomed in on Apple’s September 2022 stock price and plotted a graph of its movement (see above).

• As could be seen, immediately after the event Apple’s stock price bounced within range before it started to trend downwards.

• Hitting the lowest on Thu, 29 Sep 2022 at $142.48.

In case you are interested, my other “PICK” posts. Please enjoy:

• Time to invest in Qualcomm? Read & decide. Click here!. Give a “like” ok. Thanks.

• Look at Mara again as Bitcoin on the rise? Click here!

• This week’s focus still is Inflation and Apple. Click here!.

• Do you think Apple’s event will have any surprise element to thrill both consumers and stock markets?

• Do you think history will repeat itself for Apple this September?

Please give a “LIKe”, “Share” and “Re-post” ok. Thanks. Rating is very important (to me).

Do consider “Follow me” and get firsthand read of my daily new post/s ok. Thanks.

@Daily_Discussion

@TigerPM

@TigerStars

@Tiger_SG

@TigerEvents