Friday, August 30, 2013

AAPL Update

AAPL has been a stock that I wouldn't even consider as a bounce candidate long over the last week or so, I didn't want to look at it as a short either as the market has the most gravitational pull on any stock so a market bounce wouldn't be good for an AAPL short. I'm not saying I'd but AAPL here, I WOULDN'T, but today is the first day AAPL has showed me anything that is interesting and worth following on the upside. ***See comments at the end of the post

 AAPL 2 min went negative and fell and has been in line the entire time until today in which it is leading positive. When a stock skips a weaker relative positive divergence and moves straight to a stronger leading positive (which is not typical), something is going on in that asset, JUST LIKE VXX NEGATIVE YESTERDAY.

It looks like AAPL is trying to make up for lost time and catch up with the rest of the market which is VERY MUCH a stock pickers market, the day's of everything moves together as 1 correlated lump are over; this fact is what has kept me so busy and accounted for about 80% of my time today, looking for the right candidates.

 Now when a 3 min chart sees migration from a 2 min, that's a strong, healthy signal for the divergence, but when it too is leading positive, again it tells you something is going on there.

 And to make it to 5 min leading positive, this is what I call, "A CHART I DON'T IGNORE", although I don't see it as ready yet, it looks as if it will participate.

The 60 min is overall negative, but you can see hints of this positive in the 60 min chart.

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