In this week's edition of The DecisionPoint Trading Room, Carl opens by reviewing the "Magnificent 7+", a.k.a. the mega-cap darlings plus Tesla (TSLA). He discusses Apple (AAPL)'s demise and later discusses possible support levels. The bias is bearish in all three timeframes, but these groups within Financials are seeing momentum and strength: Insurance. Erin, meanwhile, runs through the weakness in Technology and gives viewers some ideas on hedging.
This video was originally recorded on August 7, 2023. Click this link to watch on YouTube.
New episodes of The DecisionPoint Trading Room premiere on the StockCharts TV YouTube channel on Mondays. Past videos will be available to watch here. Sign up to attend the trading room live Mondays at 12pm ET by clicking here!
About the author:
Carl Swenlin is a veteran technical analyst who has been actively engaged in market analysis since 1981. A pioneer in the creation of online technical resources, he was president and founder of DecisionPoint.com, one of the premier market timing and technical analysis websites on the web. DecisionPoint specializes in stock market indicators and charting. Since DecisionPoint merged with StockCharts.com in 2013, Carl has served a consulting technical analyst and blog contributor.
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About the author:
Erin Swenlin is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California.
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