AAPL also look like it needs a little consolidation here, but I do think it will move higher (thus the reason for closing the short yesterday) and likely drag the market with it to what I would think would be the $680 area on a second right shoulder, but for right now, it looks a frothy and is seeing short term negative divergences.
AAPL's positive divergence yesterday afternoon and a current 1 min 3C chart that is in line with price.
The 2 min chart isn't seeing the 1 min chart's in line status and thus it looks like it needs to consolidate a bit and let the 2 min chart catch up.
The same positive is seen yesterday on the 5 min chart, but again the 5 min chart is just slightly negative intraday and looks like it just needs a bit of consolidation.
Longer term this 15 min chart saw a lot of strengthening yesterday, it should form at least that second right shoulder we talked about on Monday.
And here's roughly where the second shoulder would be, around $680.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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