AAPL’s canny handlers squeezed the world’s biggest-cap leviathan effortlessly higher last week, presumably adding many billions of dollars to the ‘wealth effect’ created by the stock market’s so-far middling bear rally. The stock looked bound for a shortable, minor Hidden Pivot target at 151.26 (30-min, A= 134.59 on 11/9; B=143.70 on 11/10). However, it would take a print at 158.75 (see chart inset) to suggest this 10-percenter is destined for bigger things. That would exceed an important ‘external’ peak on the daily chart, generating the strongest impulse leg since late July.
AAPL – Apple Computer (Last:149.70)