Showing posts with label Apple. Show all posts
Showing posts with label Apple. Show all posts

Sunday, April 22, 2012

Bear Flag or Base?

Is SPX forming a bear flag or base? I guess it depends on what you're bias is. 

The 50% Fib continues to be a problem for ES, XLF and the BIX-X. Watch to see if this channel support holds or below that a double bottom. Looks like we have Ben and the Fed on Wednesday. Do I hear helicopters? Hard to imagine more QE or monetary accommodations with crude above $100. Also have to keep a vigilant eye on Spanish, ECB, Germany anything day to day... We'll kick off the week with Chinese HSBC PMI on Sunday night.  

SPX

30 minute


Daily #1


Daily #2


BIX-X (SPX Bank Index)

Daily



XLF

30 minute




Daily


NDX

So much for the inverse H&S everyone was talking about on Friday. Need to see Mr CRAAPL/Dr AAPL stabilize and recapture 600. Both NDX and AAPL are sitting on their 50SMA. Ideally bulls would see a DB here in AAPL and some sideways range consolidation action. So far we're seeing distribution. Not sure if this is just a nice 10% shake or the start of something really concerning. We'll see.

30 minute


Daily


AAPL
30 min


Daily



Wednesday, March 21, 2012

AAPL 600 a top?

Today's AAPL's weak close was interesting so I wanted to see where it's at:

*I have no AAPL position but I own a handful of QQQ puts that I started today.

Weekly

Is this a reversal Star Position in the making candle pattern?


Daily

Is this a gravestone doji candle today?


30 minute

Bumping up against resistance but still managed to close above 600. The next few days will give more clues as to whether AAPL will begin to pullback and where buyers will step in.