$AAPL has a nice setup that formed on Thursday, post CPI, with a chance to trigger a new 9 day trend on Monday if it holds up or moves higher. Upside to $167-170 by the end of November if it holds over $144-142.
Despite the strength observed after CPI data came out, a lot of people are on the sidelines or still shorting or quoting the similarity to 2008 moves, etc.
Hopefully this is a positive signal from sentiment...
For now, data suggests we should be long and try to manage risk carefully until we have more clarity that we are out of the woods when it comes to downside risk. I'm personally not a fan of $AAPL as an investment but you have to monitor the signals and trade accordingly in speculative accounts (I suggest employing 25% of your total capital to trade short and mid term technical signals with strict risk management, and set aside 75% of the capital for long term investments with WAY wider invalidation criteria, also tracking fundamental variables to decide when to exit, or add, or cut exposure down, etc.).
Best of luck!
Ivan Labrie.
Despite the strength observed after CPI data came out, a lot of people are on the sidelines or still shorting or quoting the similarity to 2008 moves, etc.
Hopefully this is a positive signal from sentiment...
For now, data suggests we should be long and try to manage risk carefully until we have more clarity that we are out of the woods when it comes to downside risk. I'm personally not a fan of $AAPL as an investment but you have to monitor the signals and trade accordingly in speculative accounts (I suggest employing 25% of your total capital to trade short and mid term technical signals with strict risk management, and set aside 75% of the capital for long term investments with WAY wider invalidation criteria, also tracking fundamental variables to decide when to exit, or add, or cut exposure down, etc.).
Best of luck!
Ivan Labrie.
Trade closed manually:
This is uncertain now, weaker...and daily $SPY is at risk as per my latest publication.
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Bearish signal was negated, tomorrow could once again erase today's signal...
I am not in $AAPL or $SPY, and closed almost all positions yesterday. Stay safe out there. We can trade safely again next week probably.
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