AAPL Charts...

Yesterday I put out several posts about AAPL and its job with the COMPQX, but also deterioration.

The last major call in AAPL was a long position, calls were opened for it, although I do expect the larger trend to be down so this is actually an ideal area to look for an entry.

This is the last major update when I still had the AAPL call position open on Friday 11/22

In fact, the VERY same triangle that broke out, was the very same triangle posted above last Friday, linked above.

 AAPL breakout from the bearish descending triangle, this is the post from last week and the exact chart in which I was looking for an AAPL breakout and that's why I had opened AAPL call positions.

This chart is from last Friday's post, looking for a breakout above the triangle, it doesn't always happen right when you want it to, but the 3C signals were there and it did do what we were looking for.

 This is the current 5 min view of the b/o fro the same triangle, note the increasingly parabolic move, in my experience I never trust a parabolic move, they trend to create a true parabola and fail in like manner to the way they started.

 My Trend Channel set to 30 min held the entire move so a break below $540 would represent a change in character for this portion of the move.

 A wider 60 min Trend Channel holds several trends, her around $535.50 (by the time the channel arrives) would be a significant change in character for the move.

This is my X-Over Screen, initially used for weeding out false crossovers or "Whiplashing", but since has acted as a neat little trading system of its own. All 3 indicators have to fire for a short or long or BTS/Sell. The price moving averages in the top window (10-sma and 22 sma yellow and blue respectively), the custom indicator and 22-sma in the middle window, the code for the indicator is below and finally a normal 14 period Wilder's RSI with smoothing (Wilder's) and it must be above or below the 50 line for a signal, also watch for divergences. You can see a short trade and a long, the type of trade depends on the timeframe you set it to, this is a 30 min chart good for a quick swing trade.


This is the code for the Custom Cumulative Indicator in the middle window (yellow) with a 22-bar moving average (blue). In TC2000 the code may need to be adjusted so feel free to send me a screen shot and I'll double check your indicator looks right.

*Make sure you use custom CUMULATIVE indicator and enter the code as seen, I copy and pasted it for you below.

Code:

c-avgc10>0 and avgc20>(avgc20+avgc20.1+avgc20.2)/3

c-avgc10<0 and="" avgc20.1="" avgc20.2="" avgc20="" b="">

1+1

 Intraday 1 min, you can see a positive near the close yesterday, as usual the closing 3C signal tends to play out and pick up where it left off the next day.

2 min chart

3 min chart. Notice how each is a little less extreme than the former? This is "migration of a divegrence", it actually shows the divergence is valid and getting stronger.

 At the "A" and "B" I want you to imagine a red arrow running from left to right, that is a large relative negative divegrence. The green arrows show 3C confirming price movement which just means nothing unexpected is happening in underlying trade.

However the current signal is both negative intraday and leading negative, it was the intraday charts that needed to go negative as they act as the key to unleash the longer charts' 3C momentum or signal that is coiling up like a spring.

 We saw an island bottom on the 5 min chart with 3C accumulation of it, again proof that smart money buys in to weakness and sells in to strength. The Island bottom also represented a head fake move just before the upside reversal.


 The 10 min chart is why I believe in an AAPL short as well as the 5 min, both leading negative, but short duration there were signals for a bounce, that is why the AAPL calls were opened and you can see that in last Friday's post linked above.

These charts just needed the faster timeframes to go negative, they should return to making new leading lows.

The 15 min chart and once again, note where the divergence really got negative and the breakout above the range, again this goes to how Wall Street accumulates and in this case, distributes.

I like AAPL short for a trading position a lot, whether as a Put position or equity short, I'm not sure yet, it depends on the set up and the signals at the time, but if I wasn't trying to be careful with not adding too much to the trading portfolio right off the bat, I wouldn't have any problem with shorting AAPL here.