Friday, December 5, 2014

AAPL Trade Set-Up Update

I'm still watching AAPL, still surprised it has not come to the rescue of the QQQ this week which are still lagging badly today.

 This 60 min chart of AAPL shows the 4 stages of a trend, that can be found in multiple timeframes, it''s a map, know where you are and know where you are most likely to go next. In this case we are at a stage 3 top with some distribution, however it is not so heavy I'd consider this a core short which is why I've wanted a concession for a short sale entry, a bounce giving better profit potential and lower risk as well as giving us a look at the 3C chart during the bounce telling us whether it is under distribution or not. We still haven't seen that move, but there has been some worsening of the charts.

 30 min in line perfectly with a negative divegrence, but not a screaming divegrence jumping off the chart, again my reason for wanting a concession in the way of a bounce/

 The 10 min chart shows some additional weakness building in AAPL.

As does the 5 min after showing near perfect trend confirmation to the left, however the price concession I've wanted it a gap fill or above the triangle area, which is a better risk/reward ratio.

This week charts like this 2 min have seen additional deterioration making AAPL more interesting without the bounce, but considering other opportunities, I'd still like to see the bounce or worsening charts.

The 1 min which confirmed the uptrend and is now worsening to the downside/distribution.

I'll continue to wait, but perhaps this gives some of you some extra information to go off

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