AAPL daily-this is the chart I'm concerned with on AAPL, it certainly looks like topping action
The 1 min chart is showing a negative divergence, however, gains may continue for a bit as I'll explain
AAPL 5 min shows a slight positive divergence late yesterday-same as SMH
The hourly AAPL chart has spread to the daily and looks pretty bad
Here's the same late accumulation in SMH yesterday, not huge though.
FCFS in financials shows the same 1 min positive divergence yesterday, now in a negative relative dvergence
The 5 min is also in a negative divergence. If you look at the white square, that is the price range where accumulation took place, so the accumulators are at a profit and I'm inclined to think the negative divergence today was them selling into higher prices.
The 15 min shows the downside reversal and again, a rather short period of accumulation. We also see a positive leading divergence right now, but the shorter term charts will effect this if they stay negative.
FCFS daily shows no confirmation the last month or so, thus a negative divergence. Remember that tops are rarely an event, they are a process. This is not as developed as AAPL's, but it also doesn't have the same large float.
FCFS 1 hour still implies about 2 days of accumulation at the lows, so they are in profit now.
In financials, here is XLF with a late day positive divergence and now a negative today.
I'm thinking that it may be the case that because we have an extended holiday, effectively 5 days as most traders won't be in on Friday and US markets are closed tomorrow. They maybe taking a quick profit on these trades. With the volatility around the world, which is a post I'm working on, I'm not sure how many traders will feel comfortable holding a long position for effectively 5 days when the news is so bad and fast, especially with the Korean Peninsula.
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