Tuesday, February 28, 2012

AAPL Update

Despite how I feel about AAPL longer term (summed up as I think the 15th of February was a major change that may have broken AAPL's back longer term), it looks like there's an opportunity intraday or maybe over the next few days on the downside.

This of course has implications for the NASDAQ 100 and market in general. For now, I'm just dealing with the near term and the longer term, we'll cross that bridge when we get there.

 AAPL 5 min negative divergence on new highs, this opens the door to a possible head fake opportunity and if so, the fade would probably be pretty quick on the downside for a short term trade.

Intraday today the 1 min chart is confirming and AAPL has already lost some ground since 3C started leading negative.

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