Yesterday, in the midst of a predominant total market reversal (see our outlook and forecasts for GOOG , MSFT , AAPL stocks, as well as for SPY index and commodity), AAPL came through as a contrarian to deliver a signal. This stark contradiction made us look into it closer (See our "Facing Time To Fold?" original chart and commentary here: ).
As of today's close, a candle finished the trading week into a tone, pointing at the target generated on the prior trading day. While be are optimistic that the target would be reached over the coming 1-2 weeks, we remain guarded as to the longer outlook when taking into context the predominance of outlook on other stocks and broad indices.
While Facebook might distinguish itself from the pack of bears, we still abide to President John F. Kennedy's 1963 comment: "a rising tide lifts all boats". In contrast, we would modify his aphorism by using the words "syphon" and "sucks in", where they should fit.
#FB remains , nearing an intact target overhead. However, our outlook is guarded considering the broader market context and the preponderance of signals generated in other complicit stocks. If and when this stock provides a significant change in direction, we will offer added technical comments pertinent to the underlying change.
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
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