Wait for Stabilization in Apple and the S&P 500, Oppenheimer's Wald Says

The video discusses the technical analysis of Apple's stock, highlighting its bearish trends and the need for stabilization. It also covers the S&P 500's performance, noting a bear market within a larger secular bull market. Key indicators for market predictions are discussed, including the percentage of stocks above their 200-day moving average. The video concludes with the impact of Apple's performance on the market, noting a significant drop in shares due to revised revenue forecasts and challenges in China and emerging markets.

What factors contributed to the downward revision of Apple's first-quarter revenue and earnings?

Discuss the implications of the recent market actions on the overall market sentiment heading into the New Year.