Stock Analysis & Stocks to Watch

Apple stock analysis:
In the last 2 days, Apple managed to reach $500 but dropped below at the end of the day
500 is definitely a resistance for now, but a weak one as it sometimes stayed above 500 for quite a while
Despite a barrage of good news, Apple is having a hard time fighting a falling stock market, a weak economy & a psychological level of $500

Apple's news:
Well known billionaire investor George Soros doubled his investment in Apple, Apple is looking to close a deal with China Mobile but it's still on-going
We predict that it'll happen sooner or later because both sides are positive & keen to close the deal
Both sides also need it as their sales were slumping in China
And Tim Cook says he expects China to be the largest market for Apple after the US
This is a very important step for Apple, therefore it should be just a matter of time

Apple's price to watch:
Apple might need more significant news to push it above 500
If Apple closes the deal successfully, it might give Apple the much needed boost
Apple also needs to close above 500, then stay above & not drop below
Once 500 is secured, it can become a very strong psychological support level
Watch Apple @ 500 for the next few days
(Although it's now a resistance, it's looking to turn into a support)

Wal-Mart's news:
Wal-Mart said that currency fluctuations reduced their sales by $680 million & will weaken growth this year
Wal-Mart is also fighting against weak demand

Stock prices to watch:
Despite a lot of bad news yesterday, stocks found temporary supports because they were too low
Watch S&P 500 @ 1660
Watch JPM @ 53.0
Watch Wal-Mart @ 74.0, resistance @ 75.0
Watch Cisco @ 24.0 (24.5 is quite weak, as it dropped below several times & even closed @ 24.49, we prefer for it to drop to 24.0 & rebound, making 24.0 a support)

Temporary supports are weak especially when there are bad news & can be broken anytime
We need to wait for bad news to subside & support levels need to be strengthened before we consider buying
Trading before then will be at a higher risk
Watch & see if stocks can rebound today