Thursday, August 1, 2013

AAPL's on the WL

AAPL hasn't been on the WL for a while, I still think there's some counter trend rally coming in AAPL if it can hold it together, but near term it's starting to show cracks and it's still a bellwether. Interestingly right in the area where it's starting to fall apart, there's a bullish consolidation/continuation symmetrical triangle, one of the easiest price patterns in T.A. to recognize, so I doubt very much it's coincidental.


I'm also not ready to enter a position here, probabilities are one thing, high probability trades (emphasis on trades as there's more to a trade than just direction) are another.

 AAPL 1 min intraday leading negative with a clear triangle in yellow seeing a downside move at the apex.

 AAPL 2 min

AAPL 3 min.

I'd have to see a better set up and worse looking signals before considering this, but I think it's worth noting as a potential Watchlist candidate and because of it's influence on the market (Tech and the NASDAQ 100).

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