AAPL

"Let the trade come to you"...

I'll be watching AAPL very close for a possible short entry/add to, I like the psychology behind this chart very much, especially given the stock is AAPL which is already a stock traders love to love.

 The bull flag in AAPL would pull some early technical traders in on the long side, but given how this market has been a meat grinder for many traders, I'd think most would wait for the upside breakout that the bull flag represent to technical traders and don't think Wall Street isn't VERY aware of this bull flag.  In a previous post I showed you how there was virtually no accumulation inside the flag, but VERY defined positive and negative divergences that seemed to be literally creating the bull flag that technical traders will key off. Today we have the move above the flag, this is the confirmation many AAPL longs are looking for as they chase the trade on the break above the price pattern.

Volume intraday on the move above the flag isn't HUGE, but there's a noticeable uptick there.

So what are we watching for? Most of you know the answer to that question, we are watching for the potential discussed when that I put p the post mentioned of the flag seeming to have been created rather than naturally occurring, a head fake move above the flag or bull trap. These bull/bear traps are the moves that tend to be fastest and deepest, as my friend says, "From failed moves come fast moves".