AAPL and Market Update

It's very strange to see the market moving in the direction you expect, but to be suspicious of that move.  So far I can't really push suspicions past short term or intraday charts and the trend expectations aren't built on the short term charts, I can't argue against the longer term charts.

In any case, this appears to be short covering, I would also say this appears to be in front of some sentiment that Obama is going to give a magnanimous speech searching for a deal on the fiscal cliff.

As for AAPL, as noted recently, AAPL has been a disappointment as it has been one stock that should, but had not participated in positive divergences until just a short time ago, mostly this week, it is a change in character and we look for changes in character before changes in trends. It's hard to argue against what I expected to see or at least what looks like the start of that, perhaps it's just more jubilation and fear on the side of the shorts pushing the market to extremes that we wouldn't expect to see yet.

AAPL charts...

 AAPL put in an intraday 1 min negative divergence at the same time as the QQQ, not surprising as AAPL is basically the Q's, this can cause a lateral consolidation through time or a pullback and consolidation through price, with the way the 1 min kept dipping as AAPL was flat for a short time, it would seem more like a pullback, but something moved the market and that seems to sentiment, not cycle oriented.  The 1 min is still not in confirmation and thus in a small negative divergence, although its trying to confirm.

 The 3 min leading positive divergence of the last 2+ days suggested AAPL would see a change in price trend.

 The longer term charts were already positive like the 5 min which is long for AAPL's recent behavior.

And most importantly the 15 min chart's leading positive divergence.

As things stand, I'd be very skeptical of chasing this higher if you didn't already set up longs without some pullback, but with the 15 min chart that positive, it's hard not to imagine AAPL squeezing the shorts.