AAPL Update

This looks like the real deal, that doesn't mean AAPL won't pullback, I'm guessing as of right now that it probably will, but it has more relative strength (3C) than most stocks right now.

There's always the possibility of a larger base in AAPL as well, although I don't think AAPL is ready for that.

Here's a look at what I mean.

 This 30 min chart looks great, it has been really showing where real strength came in to AAPL although there were several set ups to try to draw out the stops and draw in the shorts, it really wasn't until $400 was broken did they really accomplish their goals and the charts reflected that, not that they weren't already moving toward accumulation, but the quality of the signals and the size grew much faster under $400.


 This 15 min chart basically says AAPL is launching in t-minus... (basically about any moment).

The 10 min chart is as well

And the 5 min chart is like "Ignition".

 At 3 mins AAPL is just "in line". So the important charts, the ones that have the power to really move AAPL are all in place, all ready to go, it looks like it has even started, but the intraday charts look like AAPL could fill the gap from today, maybe move with the market a little, but I expect the relative strength in AAPL to be superior to most other assets, it's really there and I wouldn't let intraday or day to day short term moves discourage me. In fact they may even be useful if you want to add or start a long position in AAPL.

I believe AAPL is going to see a strong counter-trend rally, I don't think it's a turn around or recovery for AAPL or the start of stabilization, but a counter trend rally is basically about the strongest rally you'll see so it's worth the time so long as you don't have unrealistic expectations of what it is.

This is a 1 min chart, it's like an ant compared to the charts above, but intraday it can still effect AAPL and possibly fill that gap, possibly more, it's not the strongest 1 min chart by a long shot so I'm not expecting much right now from it and I suspect AAPL will show better relative performance.

The bottom line I think, is despite intraday or very short term moves, AAPL is there, it's starting the move and I expect it to be a very worthwhile move, just not a return to the glory days.