Stocks This Week: Sell Short Apple And Buy Seagate Technology

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There is a projected turning point on the 16th. The market has been rising, and the index is up against its July 26th all-time high. We can expect a pullback. The market is unlikely to make a new low, but let us look at the seasonal influences:

From 1980, the index has fallen 67% of the time from the 16th through the 30th.

From 1980, the index has declined 70% of the time from the 20th through the 28th.

In fact, the S&P has only been up 35% of the time on the 17th.

From 1885, the DJIA has declined 55% of the time from the 18th to October 1st.

The S&P is likely to retrace part of its recent recovery, to 2950,

a 38.2% retracement.

The Apple weekly cycle turns down this week. Three of four sell signals have proven profitable in the last year. The stock is overbought after its recent run. The shares are likely to retreat to $209-$213 in the next week.

Chart 1

Cycles Research Investments LLC

Chart 2

Cycles Research Investments LLC

The weekly cycle for Seagate Technology turns up on the 16th. There have been nine buy signals in the last twelve months and seven have been effective. This cycle remains in an uptrend through October. Relative strength has been strong, and weekly momentum has traced out a series of higher lows. The share price is likely to rise closer to the prior high at $60.

Chart 3

Cycles Research Investments LLC

Chart 4

Cycles Research Investments LLC

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