AAPL Update-Earnings

I updated AAPL yesterday, AAPL Update, the gist of it was there's a very enticing range that is prime for a popular stock like AAPL to set up a head fake move. There are divergences, relative on the longer term charts that are within larger leading negatives (see the 6 hour chart from yesterday) that suggest a head fake move around the range (assuming above) was a pretty decent probability.

There have been some changes in some of the charts since yesterday. I still would prefer to sit back, let AAPL do what it's going to do on earnings and if there's a head fake move above the range, use that to our advantage to get good positioning on AAPL.

Otherwise here are the charts that have some interesting information today, mostly negative, but not within the timeframe (6 hours) that my head fake theory was based on, no movement there.

 The 15 min chart and range with positives at the l;last 2 bases, the current negative is not huge and as I said yesterday, I suspect it's there to prevent a premature head fake over the psychological $115 level.

 The 10 min chart looks a bit worse, although it has more detail, it is not as strong as the 15 min.

The 5 min chart looks a bit worse as well.

Interestingly intraday where you might expect last minute accumulation, the 3 min does not show it.

Nor does the intraday 1 min. I'm guessing if smart money is in for a head fake move, they entered at the bottom of the range and would sell above the range.

I still like AAPL as a long term core short, but in this case, I'd rather let the dust clear and plan the trade based on whether we get a head fake move which should be able to be confirmed.

Otherwise, AAPL is still plenty high to make an entry somewhere else if earnings have a bad reaction.

I think that's the best use of the information we have. I would not have a problem holding a partial long term short position as I believe we have on record.