AAPL Update

Thus far the move in AAPL doesn't look very impressive for a breakout move, but I think it will have to do more and probably will, I'll explain, but lets take a look at the charts.

 Here's what appears to be the start of the breakout from the intraday triangle or more appropriately, Bull Pennant, just as I thought on Friday the initial move in AAPL from a triangle would have to do more and thus lead us to early Monday strength, I think this has to do more as well. These are not random actions in the market, you could see by the 1 min chart's leading positive divergence that they were getting ready to break AAPL out intraday today.

As mentioned, the market is fractal in nature so what happens on long timeframes happens on short timeframes and for the same reason, the same human motions and the same manipulation of emotions and Technical Traders' predictability, take a look at a longer daily chart of AAPL.

To the left we have the biggest bullish pattern on the AAPL chart which is a true Bull Flag. That flag was shaken out and that shakeout gave AAPL the lift needed to make the next bull flag/ pennant which is the triangle we talked about Friday and the same one in the largest yellow box above. Just a I thought on Friday there was no sense in running AAPL higher without breaking above the triangle, the same applies intraday today; there's no sense in running the move if it doesn't accomplish their goals which are many fold in a head fake move, but include creating demand to short in to, creating the reversal snowball effect, creating volume rebate income, etc.

 Note how the SPY in green moves almost exactly with AAPL in red at the breakout, even volume bumps up. The relative performance is much different.

 As mentioned earlier, the 10 min Bollinger Band hadn't tightened up o I thought we had more triangle to build, here you can see it tightened up just before the move started.

 This is the 1 min divergence, this is a very weak divergence as far as the timeframe, but shows the intent to move AAPL intraday higher, if this were strong, it would migrate to the next longest timeframe.

 Here's the next longest timeframe, 2 min, in fact we have a leading negative divergence so there was very little strength in the 1 min divergence, just enough to get it to move.

 The 5 min chart intraday is leading negative, this would suggest that any demand by longs buying the bullish price pattern was used by smart money to sell/short in to.

The 5 min trend shows what's been going on longer term with AAPL, again, selling in to price strength.