AAPL’s quasi-criminal handlers created a bullish impulse leg on the daily chart Friday in the usual way, with a short squeeze on a volume-less opening bar. We’ll respect the uptrend but trust it only as far as we could heave an anvil. In this case, that implies looking for a short-able top, or perhaps just a stall, at D=158.37 of the modest reverse pattern shown. If the stock pops above it there will be three opportunities for DaBoyz to increase the putative strength of the rally by exceeding each of the ‘external’ peaks nearby, the highest of them at 162.61 on August 29. ______ UPDATE (Sep 12, 10:51 p.m.): This is the steepest short-squeeze DaBoyz have managed since late July, and it has turned the hourly chat robustly impulsive. That implies it is not going to simply roll over and die, especially in answer to your prayers, and that any pullback must be regarded as corrective and therefore a buying opportunity. _______ UPDATE (Sep 13, 7:07 p.m.): Although AAPL might seem to have trashed my last update, that won’t inhibit me from attempting to bottom-fish with a tight reverse-pattern ‘C’ anchored at 151.74. In any case, I wouldn’t count out the scumballs who make their living by simply shaking this stock down and then running it back up on zero volume — just as they’ve done hundreds of times. ______ UPDATE (Sep 16, 12:31 a.m.): After plummeting in the early going, AAPL got its best bounce of the day off 151.78, four cents from the number drum-rolled above. No one mentioned doing the trade, so I didn’t track it. The subsequent relapse took the stock from 154.30 down to 151.58, and thence to 151.11 in after-hours trading. If AAPL continues to fall, use 148.58 as a minimum downside objective and a place to anchor a reverse-pattern ‘c’ to bottom-fish. _______ UPDATE (Sep 16, 8:42 a.m.): The stock is headed toward a tradeable bounce from 149.87, the target of a minor bearish pattern that came into focus overnight: https://bit.ly/3Dv5BZr (148.58 is a voodoo number that is still viable.) I don’t think the droolers and the algo monkeys are onto the higher number, and surely not the lower, and that’s why I like the trade(s), presumably rABC-style.
AAPL – Apple Computer (Last:151.36)