Tuesday, March 26, 2013

SPY and AAPL Charts

 The SPX vs the TICK shows an inevitable slow down, whether consolidation or pullback, there are just too many stocks declining in to higher prices, time to regroup or "consolidate".

 SPY 2 min negative intraday right now, this suggests at least a pullback which we have seen to some degree already.

 At 3 mins the SPY is in line so I don't think this is any kind of death blow to the move.

 This wasn't readily apparent early this morning, but AAPL is working on an intraday positive divergence on the 1 min...

 It has migrated over to the 2 min chart which shows it started yesterday in fact.

 And is just hitting the 3 min chart-ALL INTRADAY TIMEFRAMES and that's where it stops so I don't see this as a particularly big move for AAPL right now, but possibly worth playing with weekly calls on a speculative basis, you have to protect the portfolio. First and foremost the rule is, "Keep your chips", it's a lot easier to keep them than to make them back (e.g.- a loss of 50% takes a gain of 100% just to make it back to break even).

AAPL 10 min in line, this is why I don't see a longer term high probability trade here at this time.

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