Perhaps the new week will bring more clarity to a graphical picture of AAPL that is beginning to turn a little murky? The only thing keeping me somewhat bullish at the moment is the incipient reverse-head-and-shoulders shown in the chart. It is a seven-month fetus at this point, however, and only further gestation will reveal how well-formed and healthy the baby is likely to be. A big move down would probably render the pattern stillborn, but it would only benefit bullishly from a big rally. _______ UPDATE (Feb 23, 5:17 p.m.): The playful little jig that AAPL just did on its midpoint-pivot gravesite suggests it is on its way down to exactly 148.93, the ‘D’ target of the pattern shown here. First, let’s root for a punitive fall to at least p2=155.86. _______ UPDATE (Feb 24, 11:28 p.m.): AAPL’s canny handlers impaled shorts with a spectacular bear rally. Like the bounce in the E-Mini S&Ps, this one began about midway between p2 and D, a ‘discomfort zone’ spot too tricky too rely on. The bounce occurred from where it did because nearly every trader on earth was waiting to buy at the D target of an all-too-obvious pattern.
