Thursday, January 5, 2012

AAPL worth keeping an eye on

Even if only as a market barometer.
 AAPL trade (range) has been thin, there's an October breakaway gap in yellow that was left open, it looks like AAPL has been trying to close that gap.

 Intraday it has started on a move of lower highs/lower lows, the next move could create the next lower low which would be significant for the short term and may have some longer term implications.

The most damning chart for AAPL remains this 15 min which has shown accumulation areas in white and distribution in red, currently the status is leading negative. AAPL has a lot of weight on the NASDAQ 100, the most and for that reason alone, changes in character of AAPL re worth noting as it relates to the broader market.

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