Another AAPL Update

Being there have been intraday (1 min) continuing positive divergences in the QQQ that have also moved to the 2 min chart as well and positive divergences in the NASDAQ futures not only on the 1 min chart, but the 5 and 15 min charts too (Futures charts seem to be more influential when comparing  the same timeframe in a similar market average like the NASDAQ 100).

 I figured I'd take another look at AAPL and see if it was part of the equation in what's going on in the NASDAQ today. Short term (and that's where we are hung up) the answer seems to be a resounding "NO".

 The short term intraday AAPL chart from yesterday afternoon and including all of today. I could find a divergence or two in there, but this IS NOT the kind of divergence that we look for to give us an edge, there are a lot of charts that look like this and most of them are going no where.

However there was an interesting finding...

 Take a look at the AAPL 15 min chart, this is a significant timeframe just on a single divergence, look at what that negative divergence did to AAPL, sending it from $594 to $501 in just about 2 weeks.

However even more influential is the trend of a 15 min chart (or any timeframe really) and there as I showed earlier today, we have a leading positive divergence. I suspect this is preparation for the 3rd trend, I showed it to you in the market as well and it dovetails nicely with the first and second trends.

 If we look at AAPL's 15 min chart and focus on TODAY ONLY, look at what we see, a leading positive divergence on a pretty long timeframe that doesn't typically move this fast in a single day.

 Remember the bearish "Bear Pennant" and our expectation that we'd see a head fake break below it in AAPL, we saw the break below, thus far it is a head fake because AAPL should have started a whole new leg down on the break below the price pattern, instead it's lingering around support.

 Yes, support as seen on this daily chart. This is VERY obvious support so what typically happens before any move to the upside, that's right, all of the orders and stops that are piled up just below support are hit and taken out (as you saw and will see in my continued Head Fake article, there are more reasons than just that).

For traders watching AAPL and it is one of the most watched stocks if not the most watched, there's one other price pattern suggesting those stops get hit and we have a head fake move to the downside to start the third trend, which just so happens to fit perfectly with market expectations! This is what I meant when I said the different trends dovetail in to each other and give the next trend a jump start.

This is the other pattern traders are watching, a bearish descending triangle which is a consolidation/continuation pattern which is expected to continue the previous trend which was down, so traders have another reason to fall for a head fake move below support, all of which can be used by us to buy AAPL at great prices, low risk and very high probability chart indications.

In any case, the point was the sharp 1-day leading move up in AAPL on a 15 min chart today.