Stay Cautious on AAPL/SPX500

9 thg 3, 2016

The recent rally may have over-extended a bit above resistance levels. However, I don't think these levels will now become support. RSI reached 100 and is now on a downtrend. I would probably short or stay neutral. Oil's/SPX500 recent rise have been a result of oil freeze talks instead of fundamentals. It could be another fake out. I agree with Goldman's take (fortune.com/2016/03/08/goldman-sachs-commodities/). Just my two cents.