I didn't see the ES falling when I made that post. I'd understand if the S&P fell because of Apple since Apple is in the S&P. I know there is some correlation between the indices.
That thought crossed my mind as well, although of course there is usually some correlation. No apology required one way or the other. It's been years since I read his books or looked for such chart patterns so it's certainly possible my soon to be 52 year old memory is the one in error. Since you're familiar with his work I'll assume you have access to it to verify one way or the other.
Dow and S&P wont crash much during afterhours in the same way as nasdaq has (down nearly 2% now), since the nasdaq tanking is completely due to apple crashing 10%, thus directly dragging nasdaq down 1stly due to its 5% weight of the index, and 2ndly due to the amount of panic and short-selling pressure its causing instantly on the other technology stocks, which as are all weighted in nasdaq causes instant crash of 2%. When dow and s&p futures open properly though (about 8am UK time), there will be a very bearish sentiment for the day spread across the market, and especially due to how extremely overbought dow currently is i expect both those other 2 indicies to follow nasdaq down by falling atleast 1.5-2%.
Guys am I missing something? The only thing I see going down is NQ and maybe the ES a little bit. Dow looks fine.
In fact, out of the S&P, Nasdaq, and Dow, the only one that has gone down at all during afterhours trading is the Nasdaq: edit - I accidentally cut the dates off on that image. That's a chart of the last 5 days with the current day being today, January 24th.
Yep the market did not do what i had expected it to do. Whilst dow is extremely overbought now it just seems incapable of falling even 0.5% - 1% ever anymore for some riduculously strange and illogical reason. Im just dumping the dow and focusing on shorting the dax instead now though.