So it just occurred to me that I was interested whether our earlier call yesterday on AAPL would mesh with DeMark's call on CNBC last night, apparently it did; which makes me thing about our trend #2 (big move down) and how we are looking for certain things to happen and they are happening and DeMark's prediction or Indication that the US market is right at a top, it's just a matter of a short period of time (maybe days), which is about what we have been looking at so Leading Indicators, etc could move to where we want them.
Interesting. AAPL is up almost 5% today and you know I only like options for very high probability, short duration trades!
AAPL charts...
This is AAPL's 15 min chart, this is a longer discussion, whether we are at this trade or not, but if we were, I'd drop the options (leverage) and be looking for a pullback to buy the stock itself and maybe juice the returns a bit with short term options trades. We're not there yet.
As I said last night, there were hints of a positive 1 day divergence all the way out to the 10 min chart, there it is. Also AAPL gaps tend to be excellent to sell in to as you can see to the left, immediate distribution on that larger gap.
The 5 min chart is really what turned me on AAPL yesterday, no problems here so as far as this chart is concerned, AAPL still has more to go on the upside.
Very short term, intraday 1 min we do see a negative divergence, this is almost certainly short term traders taking profits. At some point this may lead to a consolidation or correction, but it's no threat to this move yet.
We know the 1 min is no threat because the distribution is light, if it were any heavier it would show up on this 2 min chart so AAPL looks to still be long and strong.
No comments:
Post a Comment