In Today's Update:
1) Traders and Investors remain nervous after shares of Apple Inc. (AAPL) reverse course intraday and drag the Dow 30 with it. The Dow Jones Industrial Average dropped 0.95 or 0.00%, the S&P 500 added 8.04 or 0.30% while the Nasdaq 100 closed higher by 63.43 or 0.92% and the Russell 2000 finished higher by 19.27 or 1.31%.
2) Crude Oil Futures fell again on Wednesday after news that U.S. Crude inventories ballooned to their highest level since December of last year while Gold Futures closed flat despite a slight drop in the U.S. dollar. The Bond market was little changed and the yield on the 10-year treasury note closed at 3.064%.
3) Shares of AAPL have been under a great deal of pressure falling nearly 25% from their recent high of to $233.47 in early October. The stock closed at $176.78 on Wednesday and will now test a major level of support. If this support level does not hold, AAPL could fall to the $130.00 level very quickly.