AAPL Update

When adding to AAPL puts Friday the ones already in place were down around 30% or so and I reminded you that this could change in the flash and it has, 2 of the 3 AAPL put positions are at a 30+% gain this morning, this is why I don't let intraday trade bother me and stick with the important signals.

Here's the AAPL update for this morning (I hope you saw last night's as there are several probable trends that will be developing in AAPL, to just assume AAPL will simply continue lower for months on end from here is not what the charts are showing, don't get me wrong, I believe the short term trend  to the downside is just getting under way and there's plenty more, but I also think it will set up at least 1 more long trade and 1 more very large short trade, that's the one I want to be short AAPL stock for the long haul.

This morning's update...

 At the white arrow we have the concept of a bullish reversal candle with increasing volume which makes these much more reliable.  I recently reminded everyone that AAPL's daily chart has done NOTHING for  over a week, except to run some head fake moves.

 Here are the head fake moves, just above resistance which is where traders place limit orders so they can buy at the first hint of a breakout, only to see the positions end the day at a loss. These head fake moves serve several purposes, but one of the important ones for us is that they are an excellent timing marker when we have a divergence and need to narrow down the timing as they usually just precede a reversal and the second is they create more downside momentum in a snow-ball like effect. AAPL has some support at $572.25 so that will be an area to watch.

 The 1 min trend is very clear about these gaps up, they were sold in to and thus confirmed head fake moves. We do have a lower low in 3C at a relative similar low in price vs the 28th, this means 3C is in confirmation of the move lower.

 The 3 min chart which was negative at the head fake break above resistance and then leading negative on yesterday's opening, it is now hitting a new leading negative low. While intraday charts and support may cause some lingering in the area, the longer term charts are deteriorating quickly.

Here's the 10 min chart with a positive at the 16th lows, the range I mentioned with the 2 head fake moves peaking out above it and the overall distribution in AAPL which really picks up around the time of the head fake moves.

I usually like to take options profits quickly, but I think AAPL will offer more so I'll be patient with it.