AAPL Update

The last AAPL Update was July 16th at $606.25 AAPL at the last update looked like a decent short trade with this longer term caveat,

"However, at some point I think AAPL will still have another shot at an upside move as the 5 hour chart has gone through confirmation, distribution and long term positive momentum, this is a longer term trend down the road, we need to see the damage on the 15 min repaired before we can talk about this move."


I think the last update is useful in understanding AAPL's recent trade and behavior. I did not enter a short position in AAPL other than the core short that has been in place for some time.


As for AAPL as of today...

 This is where the last AAPL Update was on July 16.

 AAPL 1 min in a leading negative position

 2 min in a leading negative position.

 3 min the same

 The 5 min is also in a leading negative position, not quite as bad as the closer term timeframes.

 The 15 min is leading negative

 As are the 30 min above and 60 min below.

To me it looks like AAPL is not well supported in this area. The last update talks a bit about how AAPL saw initial accumulation a ways back and as such, I haven't expected to see any serious accumulation going forward (it was more of a 1 time event), it seems that the support from those positive divergences has fallen away leaving AAPL vulnerable.