Tim, you're probably right especially now with a good run up in the overall U.S. indices.There is a NEGATIVE DIVERGENCE in APPL right now.I would take profit if we get a red candle close below the 10MA or if it breaks current short term trend line.
nmike, keep in mind you are using a very short term rsi of only 7 days, so if you have all up-days for 7 days it will register a big drop on the first down day... If you simply look at price alone, you can always derive what all the other derivatives of price are showing. See if you can study just the price bars for patterns. There is truth in the bars themselves.
agreed, if the chart stays the same by tomorrow afternoon,I would take some profit as we have negative divergence, a fair size red candle and shorter bars on the oscillators.You also have to watch this index:https:
This analysis is EXCELLENT. If you understand it and if history repeats itself(it usually does)then this analysis will of be value going forward. I don't use fundamentals or seasonality in my trading. As far as I'm concerned seasonality and fundamentals are already included in basic CANDLE STICK price action.The other 2 best tools for successful technical trading is MULTI TIME FRAME ANALYSIS, starting from monthly and of course DIVERGENCES.