Can Apple save the market?

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 24th of July.

After the close today, Apple reports its earnings for Q2 and expectations as always, are very high for Apple. Should Apple just meet those expectations, we think it will be a negative for the market. Should Apple exceed those expectations wildly on the upside, then we think it will give a bump to the tech sector, but it will be temporary. People are not buying iPhones right now as everyone is waiting for the new iPhone 5 to make its debut. The iPhone 5 is scheduled to come out later this year.

Cyclically we see the general market under pressure and to the downside for the balance of the year.

DAILY PERCENTAGE CHANGES BY SECTOR:
CONSUMER GOODS: -0.09% Biggest Loser GNTX -20.26%
SERVICES: +0.18% Biggest Winner DIS +0.64%
HEALTHCARE: +0.07% Biggest Winner CNC +7.99%
ENERGY: -0.26% Biggest Loser TSO -3.17%
TECHNOLOGY: -0.22% Biggest Loser LSI -2.96%
FINANCIAL: +0.30% Biggest Winner RF +4.71%
INDUSTRIAL GOODS: -0.58% Biggest Loser BEAV -7.77%
BASIC MATERIALS: -0.21% Biggest Loser BTU -8.37%
UTILITIES: +0.03% Biggest Winner ED +0.08%

Now, let’s analyze the major markets and stocks on the move using MarketClub’s Trade Triangle Technology. Click Here to view today’s video