Apple's sales drop 10%. Can the $110 billion buyback cushion the blow?
The CPCE ratio (CBOE Equity Put/Call Ratio) can be used as a sentiment indicator to gauge market psychology.
While not the highest reading of the year, the CPCE closed yesterday at 0.85, marking the second peak of 2024. This suggests a bearish bias, with more put options being traded than calls. High CPCE can signal oversold conditions, potentially leading to a bounce, which is what we saw today.
$Apple(AAPL)$ earnings can seal the deal or affect today's move in $S&P 500(.SPX)$ $NASDAQ 100(NDX)$ and all the market in general.
Apple's sales drop 10%. Can the $110 billion buyback cushion the blow?
Ideally, SP500 has to reach and consolidate $5084, now that $5061 was crossed today.
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