Tuesday, September 25, 2012

AAPL 5 min Leading Negative

AAPL has had quite a sell-off in the last hour, I am not a believer in markets moving in one direction so I would certainly anticipate a bounce or something in AAPL as nothing goes straight up or down, but the entire AAPL set up before the I-phone 5 release was based on a leading positive divergence in AAPL's 5 min chart and I have said that I'd feel more confident when that same chart leads negative to the downside. We are there.

 AAPL 1 min was deeply leading negative BEFORE AAPL fell on the 21st. I'd still like to see this 1 min chart lead negative like the blue arrow I drew in. An earlier short term positive divergence that looked like a gap fill was just obliterated.


 2 min is very clear from confirmation of the move up to a strong leading negative divergence on the 21st, again well in place before AAPL moved down hard and currently this chart is in line with price or trend confirmation


Finally the 5 min that went relative positive to leading positive before the IP5 release went negative at AAPL highs, but was not deeply leading negative, you can see that has changed quickly today.

Still holding AAPL equity short.

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