Tuesday, June 18, 2013

AAPL Update

AAPL looks much more like I'd expect to see in the overall market, I still have a decent, actually a large open Call position there and I'm fine with it. AAPL almost looks as it its close to making a move, if we get a stop run under $430.80, I'd say the chances of AAPL being close to a move higher are greatly improved as stop runs/head fakes are the last thing we see right before a reversal.

 Here's the overall AAPL pattern, the small triangle below the larger one was a stop run, it's a type of head fake move, but even for a small triangle like the current one, we still see these moves as the market is fractal like that.

The AAPL 1 min chart, this is more like what I expected the overall market to look like today.

The 2 min chart suggest there could be a small head fake/stop run move, I'd be interested in checking that out as these tend to be good timing markers so I'll be setting an alert for $430.75 being broke.

 The 3 min chart, again this is what I would have expected the market to look like.

The 10 min chart looking good and as if this is a definitive head fake move.

Even the 60 min chart shows a positive divergence right at the head fake area.

I feel good about AAPL.

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