[State of the Market Address] The Wall Must be Broken

Also inside, is Apple just about to shake up the entire banking industry? Picks from the Editor SPONSORED (Newsletter Continues Below) Sponsored [A 100% Win Rate In 2022… Over The Past 6 Years...]( The next 10 minutes could change your life. We’ve recorded a special sit-down interview with a reclusive millionaire who details how he’s closed out winning trade after winning trade throughout the volatility of 2022. In fact, he hasn’t closed a single losing trade since 2016. Sounds impossible? It’s not - and he’ll prove it to you. [Click to see this exclusive sit-down interview.]( [Privacy Policy/Disclosures]( The S&P 500's Urgency to Break 4200: Bears Waiting to Pounce  Hi Traders,  The S&P 500 Index has been slowly inching its way up this month, but it seems like the 4200 mark is playing hard to get.  Not to mention, there's another resistance level waiting at 4300. It's like trying to break through a brick wall, am I right?  Now, the bears aren't exactly roaring at the moment, but if the market can't push past that pesky 4200, they might find their voice.  On the flip side, there's some support hanging around the 4050-4070 area and a bit more near 3970. However, if the market dips below 3950, well, we could be in for a wild ride with some serious selling.  Something interesting to note is that the daily changes in the S&P 500 and other major indices have been pretty small lately, leading to a decrease in realized volatility.  In fact, the 20-day Historical Volatility of the S&P 500 is at its lowest level since November 2021. This makes the resistance at 4200 seem even more legit.  As for equity-only put-call ratios, they've been inching upward over the past couple of days, but they're still on buy signals according to our fancy computer programs.  They'll stay in buy mode until they roll over and start to rise consistently.  And just a heads up, the weighted ratio is approaching the lower part of its chart, which could be considered overbought territory.  Now, let's talk about market breadth. It's been deteriorating again, but the breadth oscillators are still hanging onto buy signals.  However, a single day of strong negative breadth could tip them into sell territory. We always like to look for extra confirmation when it comes to breadth signals, though, because they can be as unpredictable as my mood before my morning coffee.  When it comes to new 52-week highs and lows on the NYSE, the numbers are pretty evenly matched. This means the indicator is in neutral territory, with no buy or sell signals to speak of.  Moving on to the VIX, it's actually looking pretty positive for stocks. The "spike peak" buy signal from March has expired, but the VIX buy signal trend is still alive and kicking.  The only thing worth noting is that the VIX seems quite low, which is technically an overbought condition. However, with realized volatility at 11%, it's not too far off from where it should be.  As for volatility derivatives, they're still looking good for stocks. The term structure of the VIX futures is modestly bullish, sloping upward through September.  After that, it levels off a bit. The term structure of the CBOE volatility indices, on the other hand, slopes upward throughout.  So, what's the bottom line here?  We're sticking with our internal indicators for now, which are mostly showing buy signals.  There aren't any confirmed sell signals just yet, but we're keeping a close eye on the overbought conditions that might lead to them in the near future.  However, as the saying goes, "overbought does not mean sell."  In the meantime, let's keep our fingers crossed and our eyes on the market, and hope that the bears stay sleeping!  Keep on keeping up!  John @ Traders on Trend  (In the next article: Apple's entering the fray on banking. Will it be a paradigm shift? Find out below! 👇) [97% Accuracy For The Last 8 Years… Really?]( [(Privacy Policy/Disclosures)]( Check the Free Presentation Today ☝ SPONSORED Apple's Latest Move: A Game-Changer for the US Banking Sector? On Monday, Apple became the first Big Tech company to offer savings accounts to US customers, and boy, did they come in strong.  They're offering a whopping 4.15% annual percentage yield (APY), which is 10 times higher than the national average. Can you believe that?  Now, if you're wondering how Apple managed to pull this off, they've partnered with Goldman Sachs, who also happens to issue Apple Cards.  Thanks to this partnership, Apple Card customers' savings deposits will be insured by the FDIC up to the standard $250,000.  Interestingly, Marcus by Goldman Sachs offers a slightly lower savings yield at 3.9% APY, which makes Apple's deal even more appealing.  Of course, there are a few other banks offering over 4.15% APY yields, but they usually come with some hefty strings attached, like a minimum balance of $5,000 (I'm looking at you, CIT Bank).  Now, compare that to Bank of America's measly savings APY under 0.04%, and you can see why Apple is making waves.  It's no wonder the Financial Times reported a near-$60 billion pullout from three US banks after Apple's latest feature was announced.  But here's the catch: Apple Card is still only available in the US.  (article continues below) Sponsored [Top Picks For The Digital Currency Revival Of 2023]( The press declares the Digital Currency Slump is behind us, and the resurgence is underway. Now, the burning question: Which tokens are poised to soar in this emerging bull market? Gain insights from a panel of 27 global digital currency gurus at the upcoming. Virtual Currency Symposium. Discover which tokens hold the potential for skyrocketing in 2023. Experience the Virtual Currency Symposium from the comfort of your home. [Click here to sign up at no cost.]( [Privacy Policy/Disclosures]( SPONSORED  🔼 Pay attention, this is worth your time! ☝  (article continues)  Despite having nearly 1.8 billion iPhone users worldwide, they haven't expanded beyond the US borders since launching in August 2019.  However, they still managed to more than double their user count last year, reaching 6.7 million.  So, what does all of this mean for the future of FinTech?  Well, considering that Apple Pay is already the top mobile payments app with 507 million global users, they're not exactly new to the game.  In fact, the US mobile wallet market is expected to hit a valuation of $970 billion by 2030, and Apple is poised to grab a huge slice of that pie.  With Apple Pay, Apple Card, and the new Apple Pay Later service that lets users split purchases into four payments across six weeks, the company is already dominating the US mobile market.  And now, with the addition of the savings account, Apple users have even more reasons to join the BigTech-BigBank party.  It's interesting to see how generational habits are shifting as well.  According to a PYMTS report, a staggering 68.9% of Generation Z respondents would change merchants based on their acceptance of mobile wallets.  Meanwhile, baby boomers and Generation X are far less concerned about this, with only 23.6% and 34.5% considering it important, respectively.  Clearly, Apple is betting big on cornering the payments market, and it seems like they're onto something.  After all, who wouldn't want to be part of the cool Apple club, with all these perks and benefits?  With Apple's track record, I wouldn't be surprised if they have their sights set on investment apps next.  So, keep your eyes peeled, friends, because Apple's FinTech adventure is just getting started!  Disclaimer:  The material in this document is for informational purposes based on our proprietary research. It is not an offering, specific recommendation, or a solicitation of an offer to buy or sell any securities mentioned or discussed herein.  Any performance results discussed herein represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment.  Due to the timing of information presented, any investment performance reflected within this document may be adjusted after the publication and distribution of this material. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, be equal to any corresponding indicated historical performance levels or be suitable for your portfolio.  Any investment results set forth in this document are not net of expenses and execution costs, nor do they account for other relevant trading or investment fees. 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