Wednesday, June 12, 2013

And We Are Back on Track... AAPL Triggers

As I said pre-market, I didn't think the overnight ramp would hold, that was a best guess, but based on information not just a guess.

So far we have some interesting developments because this may be exactly what we need that is starting to develop.

Yesterday I felt the urge to take on some long positions, but couldn't because there was no evidence to do so, that thinking was confirmed this morning, but a couple of things I wanted to see happen may be and are happening, first we need to see positive divergences, this is just a start, but the SPY is starting to show one. The second thing was the head fake move in AAPL below $435 as the start of the signal that a reversal to the upside may be building, we are now in the right area, we just need the signals to continue to develop.

 SPY filling the gap this a.m. with a 1 min positive divergence starting in to lower prices.

 AAPL breaking below the bottom of the large triangle at $435.

The AAPL 1 min 3C chart with a negative divergence sending price below support, an event I talked about yesterday as a timing marker.

We keep watching, stay patient.

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