Sell Signal cross on Stochastic(52,9,3) after recently being driven below the overbought range. 10 Bar EMA and 21 Bar EMA is being crunched incredibly close together. If 21 Bar EMA starts moving above 10 Bar EMA, coming downtrend is possible. Force indicator has been trending closer to crossing 0 as the uptrend has slowed. KST about to cross below 0. As well, AAPL is clearly right at resistance and nothing from chart makes me confident that it could break resistance.
This appears to me that AAPL is peaking. Considering that there is a possible reversal in the S&P 500 coming soon, that reversal could bring AAPL down with it. Consider stocks are up today, keep a close watch on where futures are headed. I would wait a little longer before shorting AAPL, but at the same time I feel comfortable taking the risk of buying puts.
I believe I was wrong on AAPL. Today's new high's make me uncertain if AAPL really has peaked yet. I also mistakenly paired the performance of the S&P 500 with AAPL. That was wrong considering AAPL is a Nasdaq 100 component. I will be looking however to see if the market continues to trend up. The market has a lot to prove if it wants to keep setting new highs. And it didn't do that today. Although AAPL could possibly be dragged down by a short-term reversal on the markets, it won't be anything severe considering AAPL has been outperforming the market. If AAPL closes above $114, then I would be confident enough to close out a losing short position. Although that just might be the peak. If you bought puts on my recommendation, I do hope at minimum you bought JAN 17 15 Puts. Albeit AAPL could theoretically move down from the all time high if the nasdaq 100 opens down tomorrow. In my mind the most severe it could come down to is $109. However if markets move ahead tomorrow AAPL could continue to see higher highs. If this happens, I would close out any losing short positions, as I would expect more bullish behavior in AAPL all the way to $115-121.
adammska
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No point shorting AAPL until it hits $125-130 or unless next earnings are bad imo.