Apple is in an uptrend, but seems to have been loosing steam right near a double top pattern at $138 We look to be at the end of corrective wave patterns. Watching for Uptrend continuance or Top and Drop this coming week. If we break $138, it could be off to the race.
No clear indicators. My bias is bearish right now. AAPL has been my canary in the coal mine turning before the rest of the market in the past. Trading short term with stop losses for now until a clear direction is visible.
Interesting elliot wave count you got there, i expect that we break the ATH in the upcoming days.
Did you went long in Apple?
I went long back in November and i am currently 18.5% up.
N0tSwift
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@Mornau-Research, I've been in and out of APPL on the dips and rises. Up until 9/2 I had a large position in APPL, but stopped out near the highs on a trailing stop. Since then I've been expecting a real correction and haven't seen it. Right now I'm not in AAPL, but use it as a gauge on how NDX/QQQ will perform and as the canary in the coal mine to sing when things are about to change. I'd be careful above $138 on AAPL. Several colleagues had discussed the double top and drop scenario.
Mendenmein-Capital
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@N0tSwift, I am currently also very careful, a double top scenario could happen.
Lets see if we break the ATH, the upcoming days will be very interesting.
spiritedStar84444
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Hi Notswift, may i ask the Tradingview version you using which have MACD & Stoch, Basic or Pro?
N0tSwift
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@spiritedStar84444, I'm on PRO, signed up for a year on the black Friday sale. All 3 indicators I use MACD, Stoch, and RSI are available on basic as well, you're just limited to two.
Did you went long in Apple?
I went long back in November and i am currently 18.5% up.