Friday, November 16, 2012

AAPL, Can You Ask For More?

I think only the profits accumulate in your account. Check out what AAPL did today...

 On a daily chart AAPL didn't only close with a bullish reversal Hammer Candle and on HEAVY/Increasing Volume, but it also made a head fake move below long term support, beautiful set up even if we had to wait a long time for it.


 Intraday AAPL shook out a 4 day triangle that was slightly descending which means traders would have taken it as a consolidation/continuation pattern meaning the next leg down should develop after support is broken, that's why volume picks up when support is broken as the shorts now have confirmation. There's 2 ways the shorts are stuck in a beautiful bear trap and from failed moves come fast moves.

The 30 min chart is insane, look at the move today, 10 of 13 ticks all to the upside on a 30 min chart-the volume was there to make that an accurate signal.

AAPL also happens to be a bellwether...

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