As you know I wanted to wait for AAPL to hit $680 before completing the position started a week ago Friday, however yesterday some things started deteriorating quickly as the month ended on the first trading day of the new month, notably credit which already had 2 other forms of evidence (charts and Hedge Fund Flows for August) that were calling for weakness in Credit which was the last holdout in the Risk Asset Layout.
I decided to use the momentum in AAPL to enter the remaining puts at discounted prices on that momentum from yesterday.
As for this morning...
$680 was the level I was waiting on, above the last small triangle.
AAPL 1 min yesterday leading neg. at a flat range.
The same on the 2 min chart, carrying over in to today
The 3 min also moving in to today with a leading negative move.
And as we should see with migration of a divergence through timeframes, the 5 min is leading now.
We also can't forget that most of these timeframes' trends are in deep leading positions and get worse at identifiable and obvious breakout areas that would create demand.
As for Tech as a sector, it is very early to make any determinations from these charts, but it's good to see them heading in the right direction.
Tech
Tech 2 min opening
2 min trend
3 min
5 min
15 min
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