AAPL unveiled some new products today, whether the market wasn't impressed or some profit taking occurred, in either case AAPL lost some ground. You know my opinion moving forward, if I had to take a position today and not touch it for 6 months, I'd be full-tilt short AAPL.
In any case, here's a look at Tech and AAPL which is to prepare you for FB, which I hope will still be showing an interesting signal by the update next.
Tech/XLK
From the longer term 30 min chart with the start of a leading positive divergence and we'll work down, this however is impressive.
10 min with a leading positive also, I think the range in Tech is pretty clear to see as it develops.
3 min leading positive in Tech, also the range.
The 1 min showed the intraday pullback like many averages and leading indicators, apparently it was more than just those alone, it was also AAPL.
AAPL 1 min relative negative divergence.
However at 3 mins, there's no damage to the AAPL chart, thus far I can only take that as the move causing the pullback was not that strong of an underlying trade sell-off and AAPL seems to be recovering already.
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