Thursday, September 13, 2012

AAPL

Here's some of the strangeness in AAPL, although what would be most telling is a drop in asset prices and see how underlying trade acts then.

 From yesterday afternoon (flag pole) to today up until just before noon (pennant), AAPL formed a bull flag/pennant. Interestingly the volume isn't that large for either a breakout of the pennant or more importantly a breakout of the pennant on a QE3 announcement.

 AAPL's open showed confirmation (which is to say there's no divergence that should change the course of AAPL's price movement, then it was followed by a leading negative drop, which did change the course of AAPL's price movement from up to sideways.

 Looking at the 1 min chart on an intraday basis, the second high from the pennant breakout is negative, this of course is a small intraday signal, but it was effective thus far as AAPL was halted and hasn't passed that price level as of right now.

 The 5 min chart however is where we've wanted to focus this entire time, there's some weakening of that chart as seen above.
And closer up, you get a little better feel for it. I think this is still a key timeframe, but as I mentioned in a recent post, there are several assets that are acting strange considering what just happened.

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