Tuesday, January 18, 2011

AAPL-Fulcrum

Every day there's a stock or sometimes a report that is the fulcrum of the market, today the fulcrum is one of the heaviest fulcrums out there, AAPL.

The European sentiment data which seems absolutely ridiculous to me, which also lifted US equity futures this morning seems to have made some HFTs a little profit in AAPL today.

That's a large 1 min positive divergence off the opening gap-someone bought aggressively and now they are showing their hand in the first negative divergence of distribution. This is a 1 min chart and the divergence is new so whether it continues or not to the 5 min chart will be interesting.

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