AAPL and more...

We saw what the weekend sales on Iphones did to AAPL at the 8:30 a.m. release, however as I showed last night as well as Friday, AAPL was one of the stocks that didn't look good in any way on Friday, the entire day it was never better than in line and most of the day it was leading negative until AAPL broke.

Here's what AAPL looks like on the open, also pre-market and on the key 5 min chart.

 AAPL's 1 min chart on the open doesn't show much other than a close to inline status, no positive divergence on the open, no positive from Friday's close.

 In pre-market trade, there's a positive divergence just a AAPL hit its lows at $681.87, looking beyond the 1 min....

 AAPL's 2 min chart was also weak Friday, it does show a slight positive on the open and struggling to maintain an in line status as 3C JUST barely made a higher high.

 The 3 min chart also confirms Friday's leading negative divergence in AAPL and a relative positive (the weakest divergence) at the very close of trade Friday, even though it may be a little early for the 3 min chart to catch up, it is still not making much of an effort to move in line with price.

 The 5 min chart which went positive and then leading positive (the strongest form of divergence) before the I-phone 5 unveiling is in a relative and leading negative divergence, Friday the divergence on a relative basis grew much larger, I would still like to see this 5 min chart lead strongly like the blue arrow I drew in on the chart to the right.

As to the notion of fractured markets mentioned in last night's post, I used BIDU (a core short that was recently closed near the lows on a positive divergence to the left) as an example....

BIDU short term charts were positive Friday and today BIDU is up about +1.80% thus far.

This will be quite interesting if indeed we do see fractured markets as it would suggest that QE3 has been discounted before it was announced, but could still have a positive effect, although diminished as markets start to pay more attention to P/E's , earnings and fundamentals.

Although this would be a very difficult market for traders who are use to either a risk on or risk off market, it would give us quite an edge as you can see just from the BIDU/AAPL example.