Friday, March 16, 2012

Revisiting AAPL

I wasn't going to put this up. But I will.
Top picking is the same a bottom picking. Fraught with danger. But AAPL looks toppy. There is no "trade" here for me. But I am using AAPL as a proxy for market sentiment. Particularly in the tech sector or the QQQ.
There has been a monster move up in AAPL this year and in particular over the last few months. The volume has ramped up and has been very high over the last few days. Whenever I see high sustained volume with price moving in a sideway pattern I pay attention. Often it signals a top or a bottom. At least temporarily.
Here are some charts of AAPL.

In the case of a head and shoulders pattern, a continuation of the trend is signalled with a move above the right shoulder. AAPL may have another big day or two left to go up.........

Control your

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