AAPL Update

I couldn't resist fading AAPL on this morning's move, which was all analyst upgrade based, so I knew it was dumb money chasing the news and why in the world would these investment brokerages and banks spend hundreds of millions of dollars to give you free advice? I can think of a reason, upgrade AAPL's price target , retail chases it and smart money has demand to sell in to or short in to.

Here's the AAPL update

 AAPL fading a bit

 The 1 min chart

 The 2 min chart was leading negative before the move down started, note that last candle in the red box with the long upper wick.

 The min chart was already leading negative

A close up of the 5 min, also leading negative in that same area just before AAPL gave up some ground.

AAPL is one of the bellwether stocks I've been keeping tabs on for timing of the overall market. Look at this technical set up and mist probably a bull trap...

There's been a recent H&S pattern in AAPL, I commented on it yesterday and last week. This would cause some traders to start taking profits, but according to the dogma of Technical Analysis (and we are talking about 80+ years of this being drilled in to trader's brains), a break out move would cancel/negate the H&S top and ruin the pattern. What better way to get longs to jump in the trade? I don't think the number of buy/upgrade ratings this morning was a coincidence.