I've made no secret of my disappointment in AAPL, I said well over a month ago that there were too many hedge funds all looking to exit the same small door, so I guess I shouldn't be surprised AAPL has performed or rather not performed the way it has. However at the same time, the changes in the market that suggest an upside shakeout of some magnitude "should" include AAPL and until very recently, AAPL just hasn't been giving us any signals to point to.
However that change I mentioned probably a bit over a week ago has really made a significant stride. Today I also showed you quit a few charts that have seen big improvement this week (Monday and Tuesday).
Take a look at AAPL as of 3 days ago...
This 30 min relative positive divergence in AAPL would have actually started at the 22nd of October, the point where the arrow starts at October 9th is not a divergence, it's just where the relative comparison starts.
I'd say this divergence is worth watching, it's not one that would really move me to action or get me too excited. If we move forward a simple 2 days to the present, look at the difference and for newer members let me just say that a 30 min chart is a long timeframe that doesn't usually move that quick unless there's some heavy underlying action. Remember, the longer the timeframe, the more significant the divergence.
In 2 days AAPL's 30 min chart is
leading positive and not only that, but it's also pushing toward a new local high.
This is a huge change of character for AAPL in 2 simple days.
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