AAPL Follow Up

Monday I wrote about AAPL in "AAPL is Really Pulling My Strings"

The gist of the post is that AAPL not only has a longer term base-like structure it has been building for a few months (this is what I suspect is trend #3) that looks good, but a 15 min chart that I'd usually buy every time. It just so happens to be that we have a VERY rare occurence right now of multiple trends all showing up at the same time, it is something I've never seen to this degree, which makes buying AAPL not as easy as it would normally be.

Since I've had a lot of emails about AAPL since the last post, let me show you what I see and where there may be a trade.

 The 15 min chart is what I'm attracted to, note how it's leading positive here.

 This is the same chart with no drawing.

 Even the 60 min chart, since topping has shown a positive leading divergence.

 The problem is on the faster timeframes, this 3 min saw accumulation sending AAPL higher near term, but is now negative

 The 5 min saw the same, also leading negative.

So it makes it very hard to buy AAPL when the newest divergence building is moving toward the negative. There is one potential set up I can imagine and would be interested in.

This large descending triangle is a bearish consolidation / continuation pattern that is seen after a trend down which is in place. Traders will expect price to break below the triangle and dtart the next leg down. As you can see it looks like we have a little upside head fake breakout which could set up a Crazy Ivan shakeout on the downside as well, that would get shorts to commit, provide a lot of cheap supply and likely be an excellent area to be a buyer.

I don't want to ever take a sub-par trade because I'm looking for something to do, you have to be patient with these setups and let them come to you, but that is one I can see happening and truly being worth while.