There were and are a lot of technical patterns in AAPL that all add up to AAPL being where it is right now (as far as reversals and bull traps that feed reversals go), but it can be simplified with one simple trendline and the concept of creating retail technical demand to sell short in to, a break above the resistance highs.
The 3 min chart and accumulation that was needed to get AAPL above the bull flag from yesterday talked about at length both yesterday and Friday, the chart is breaking down which puts the intraday charts in line with the longer term strategic charts.
The 5 min chart's trend, this is the concept of a large position in an expensive stock like AAPL taking time to distribute or sell short in large quantity, lots in the millions rather than the 100's.
Still, the most interesting thing on the chart today may be the first chart, the daily above showing today's candlestick rejecting higher prices with a longer upper wick.
Thus if I had room to add to AAPL here, I would.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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