Thursday, September 27, 2012

AAPL Update

AAPL looks like most of the market as well right now so it's not only an AAPL update, but more or less the same as what was seen in the Euro and the market in general-consolidation.

 AAPL 60min chart with a bounce today similar to the market.

 The 1 min chart in line and then a relative negative divergence that has caused AAPL to consolidate sideways since it started.

 The same can be seen on the 2 min chart, looking a lot like the Euro, again since the divergences AAPL has just consolidated laterally.

AAPL with a 5 min positive divergence on the open this morning.

AAPL is still not a stock I'd consider a high probability long and I'm fine sitting it out, however it is  decent proxy for a large part of the market, especially the NASDAQ 100. As for longs to play the bonce, there were others that had much better signals in place such as the IWM this morning or URTY.

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