Option Investor
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Tuesday's pivot table:
[Image 1]

At the end of the day Monday I showed a group of charts for AAPL because I feel it's a setup for a reversal back down on Tuesday. It's a setup, not a guarantee. But if it does reverse lower, along with RIMM, which also made a new high on Monday but is showing bearish divergence against Friday's high, it could take the tech index with it. And if NDX is selling off I doubt the blue chips will hold up. So I'm leaning toward more selling on Tuesday following Monday afternoon's rally, which looked very choppy and corrective.

But obviously if the market rallies and SPX makes it back above Friday's high (SPX 842.19) I think we can expect a push up to at least the 860 area, shown in dark green on the updated 60-min chart. A break below Monday's low (SPX 822.79) would suggest a strong selloff to follow, one that will easily break below the key level at 810. That would have 760 in play. So let price lead the way from here.

SPX 60-min chart:
[Image 2]

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