$AAPL · Benzinga · 2026-11-03

Meanwhile, Apple is getting hit after disappointing investors.

We do have Apple down.

Apple was 4.57% lower in pre-market trading on Tuesday despite reporting fourth quarter 2026 earnings that beat estimates with EPS of $210 on revenue of $114.48 48 billion versus estimates of $1.99 and 113.39 billion.

Apple straightening down.

another day you know they go back to Apple for some reason at least for the first four minutes before it dies a gory death.

Uh, most active in the morning. Spies Q's, Apple, Palanteer, Celis, Life Sciences, Intel, Micron, Oracle, Tesla, SanDisk, AMD, Nvidia, no surprises, SpaceX 138.

after the close, Apple loving and then um

you know, Apple's a stock that could go positive today or it could go down five more points or trunch [snorts] around in a range. It's not going to be easy to trade. I'll tell you that much.

Not going to be easy to trade and it probably will be in its own world.

Notice when I asked J.R., he didn't say he's he's trading Apple.

Take a look at a chart of Apple.

there's so much stuff on the table with how's Apple going to perform intraday.

so I looked at Apple and I looked at Palunteer and I went those guys are going to fade. They're they're going to fade. It doesn't matter how great they are. I mean, literally, why are we buying Apple?

Uh because their AI spend isn't as big as everybody else's. It's not like they've got new innovation.

when we take a look at the the market in general and you know we look at Apple my thought was immediately when I took a look at this the first thing I notice is I've got technical divergence I've got uh I've got distribution that is on the rise I mean it's still accumulating no doubt about it it's positive But it's fading.

So, they aren't buying more on the way up. And here we are down at this critical support at 335. We broke it. We're now at 324. I don't see why we don't test 320 before we turn around and and move back up.

And that's the same. We're buying Apple because they're not spending wildly like everybody else. Um, you know, Samsung had a flip phone, a a dual screen phone, I don't know, 14 years ago, you know, and now they're touchscreen on their MacBooks.

You watch the Steve Jobs article about that. He was like, "Nobody wants to do that. It's okay if you're down, but not if you're up. You're going to get hand fatigue." And so, it's just sort of a Oh, isn't that cute?

kind of thing that you might want to go after. And so there's really no innovation. They've got a group of guys and gals like me hooked to the iPhone, the iPad, the MacBook, and whatever.

And we like the the easy way we communicate between devices. And so we're trapped. Other than that, I mean, but that's just me.

For me, um, let me do this. Uh, I got to save this setup because I made a mistake here. Uh for me I am looking at some post starting shifts. So I want to see how does Apple behave.

Does it lift off of the floor? V is you know ball is fading. Um it is lifting up off of the floor. So it's holding this dogee action. And so if we're thinking to ourselves, hey, they're gonna buy the dip, then, you know, that's that's okay.

I mean, it does have accumulation. It is accumulating. The momentum is negative, but still above zero. So, they're looking for support.

So, for me, I would look at maybe a short put spread for the last. Let's do a jade lizard, but not quite the jade lizard. Let's do um let's do something like this. Let's take a look.

Let's give it Okay, where's the vault dampen? The V gets pretty damp at about the 11th. So, let's do a jade lizard. And so, at not really a jade lizard because I'm going to give it downside protection as well.

So, we are going to sell a put spread. It's going to give us a dollar. We're going to sell the November 11th 320 315 put spread for a dollar. And then we're going to buy Where is the V sitting?

And let me look back at this chart. Where do we expect it to go? 335. We could do 335 to 340 and that's 120. And so ultimately, if it moves straight up, we get free $500 because this the short spread pays for the long spread.

And the maximum we lose is our um $500 here with the exception of a few pennies because one pays for the other essentially. So, we lose the whole 500 or we make 500, which is really nice if we're expecting the price action to bounce, which I have to tell you I am because from a percentage perspective and seasonality, which has let me down quite a bit to be fair, seasonality suggests that this is in a bottoming flow and there is going to be a bounce action here.

Whether it holds is another story or not, but I for one really like it. And so that's that's what I would be looking at. That's really what I would be looking at. I would be looking for price action to start holding above the ledge.

And here it is right here. It's holding above the ledge. Pullbacks will be buy zones and then it'll rotate right up. You'll notice intra morning, intraday relative to the last 20 candles, the last 30 candles, excuse me, accumulation is occurring here in the chart.

So, they are trying to buy the dips here. So, I like that one. I think this one sort of shifts to the upside and gives us a floating motion upward for Palanteer.

Oh, let's see how the Apple and Palunteer things are going. Great. Love it. Doing exactly Doing exactly what I think it's going to. That's really really nice. Flattening out a little bit.

So intraday motion. if you want to you want to sort of trim some of that. 335 is where I thought it would head to and you know it's almost right there. And so now we go up a time frame to see if we can hold it a little bit longer.