QQQ / AAPL Update

This is great, this is the "Week Ahead " post from Sunday night and specifically about QQQ and AAPL (you can go to the link and ctrl+F and type in "AAPL" for the remarks as it's a long post)...

"Remember in Friday's post I talked about the Q's filling the gap? AAPL sure would be helpful in that task and a such, I've recently gone from "Holding the long term AAPL equity position to closing it and now even thinking about a short in AAPL".

The last bit, AAPL "Short", this kind of probable move would be likely to set up that AAPL short, I am certainly thinking about it as a pretty high probability, in other words it's on my radar, but what about the AAPL/QQQ calls from yesterday and today? They are meant to be VERY short term and that's why options were used, I even warned in a post today that it may even be a day trade. 

If AAPL sets up at higher prices with distribution in to them, I'll be looking at an August or maybe September AAPL put or (depending on the chart's severity), possibly even an AAPL equity short. Other options would be XLK or QQQ shorts or puts, TECS, etc.

As far as the comments above from Sunday night's "week ahead", you'll notice the AAPL charts look better than the Q charts, AAPL represents about 20% of the price weighting of the NASDAQ 100, or roughly the same as 50 other NASDAQ 100 stocks combined.

 You saw how far the AAPL 1 min chart was leading positive, I don't need to show that again so I zoomed in to intraday action only and as I suspected a "W" type formation, look where the intraday chart goes leading positive, at the second bottom of the "W".

The AAPL 5 min chart wasn't positive yesterday, it started today at a.m. lows and then the second part of the "W" today.

AAPL 10 min is still showing AAPL upside to be best used to short in to.

QQQ 1 min, note where the positive divergences are, at each of the bottoms of the "W" pattern with the second bottom being stronger than the first as is often the case and often seen right before a launch.

 QQQ 2 min, the same "W" theory played out here, but note the QQQ charts are much weaker than AAPL, thus as I said Sunday night, the Q's will likely need AAPL.

QQQ 3 min is barely positive at the second bottom of the "W", VERY weak overall.

QQQ 5 min is leading negative with in line as good as it gets intraday so yes, the Q's absolutely would need AAPL.