AAPL Follow Up

It looks like AAPL, which did show an increase in volume earlier, AAPL May Be Setting Up a Head Fake Long/Bounce, as yesterday's close was taken out-running stops, looks like it just hit the psychological magnet which is a support area from former resistance back around early February and just as important, the whole number and psychological magnet of $120. If you don't believe in the reasoning and the predictability of technical traders and humans in general (the same reason why you'll never see anything on sale for $120 in any retail outlet, but rather $119.99 which is our attraction to whole numbers), then just look at the charts below and the volume surge right at the break of $120.

 AAPL daily chart with a support (former resistance area) right at the $120 level and the psychological magnet that causes traders to put their stops in at $120, which I'd never do (put stop orders in for everyone to see, I actually did this when I went on vacation years ago and the low of the day before the stock took, the low was my stop, an it wasn't at an obvious place, but it was visible).

 Just look at the volume surge as stops are hit in mass, " I felt a great disturbance in the Force, as if millions of voices suddenly cried out in terror and were suddenly silenced"

 The intraday 1 min AAPL chart is still positive which makes it look like, "all of your shares are belong to us...hahahahaha!" 

This is the AAPL 5 min chart which remains positive.

There absolutely still needs a reversal process and the charts NEED to jump off the screen, but it looks like we may have just seen an intraday FLAMEOUT.