AAPL

Here's a look at AAPL, I did correct that fat finger long which was meant to be a short that would have been at a profit even with today's AAPL move. I have space to add to AAPL and will be patient in looking for the market to tell me when it is time to add there.

 Although a day or two ago it didn't seem likely, we had 3 targets in AAPL that we were looking to be taken out on the upside, the former support at $575, the psychological $600 area and the upper resistance downtrend line, today knocked out all 3. $625 and $640 would be ideal area to add to AAPL for me, but if I don't get them, I still have coverage and the 5 day chart shows how much room there is below jut on this year's parabolic move failing. Although I'd prefer to short strength, I have no problem adding to a trade that is working in my favor-this was one of the concepts in the article I wrote and posted for you, "How to make more than 100% in a short".

 The 15 min chart is as far as AAPL's strength goes and has been the key to our Tech rotation theory. The white arrows are positive divergences, the green boxes are the price area in which AAPL was accumulated, the red box is a leading negative divergence. I put in the green boxes just to show even early accumulation at higher levels turns in to a profitable long trade for smart money just looking to bounce AAPL as the 60 min chart tells the longer term story in gory detail. The 15 min chart is still supportive of higher prices.

And here's where we see the details of underlying action on a 3 min chart, accumulation in the white box, a negative divergence (selling) on today's gap open and a late day positive divergence starting, suggesting near term higher prices.

Patience.