Posted by frtaylor on 13th of Jun 2012 at 10:26 pm
Matt, care to opine on the notion that if that flag played out,
it could be caused by a (possibly serious) downside market move?
I.e., AAPL is usually stronger than the market, so if it
breaks down it would either be because of a strong market drop, or
else some bad AAPL (excuse the pun) news like earnings - though
with AAPL that's hard to imagine.
None of those "high fliers" look good to me. They all look
to have retraced their intial losses in a reflexive A-B-C. I
don't fear Greece or Europe -- who cares about them, they have been
making headlines for literally years and the beat of the bull
market has drowned them out. I fear this (bull market leaders
getting taken to the woodshed):
LULU, AAPL, CMG, IBM, HD, DHI -- all getting killed today and
look like they have continued their downtrends.
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AAPL
Posted by kevin currie on 13th of Jun 2012 at 03:23 pm
Anyone read a chart on this one?
Looks like some important support here in the 568-570 range
Posted by lessarda on 13th of Jun 2012 at 03:32 pm
AAPL, why? weekly looks like
Posted by matt on 13th of Jun 2012 at 03:31 pm
AAPL, why? weekly looks like a big bear flag setting up, here's two weekly charts, note the long term uptrend lines as well
notice how the MACD didn't even respond on the bounce
Waiting for this chart for
Posted by rose123 on 13th of Jun 2012 at 10:50 pm
Waiting for this chart for ever :). Thanks Matt. I noticed this yesterday too
Matt, care to opine on
Posted by frtaylor on 13th of Jun 2012 at 10:26 pm
Matt, care to opine on the notion that if that flag played out, it could be caused by a (possibly serious) downside market move? I.e., AAPL is usually stronger than the market, so if it breaks down it would either be because of a strong market drop, or else some bad AAPL (excuse the pun) news like earnings - though with AAPL that's hard to imagine.
None of those "high fliers"
Posted by kalinm on 13th of Jun 2012 at 03:30 pm
None of those "high fliers" look good to me. They all look to have retraced their intial losses in a reflexive A-B-C. I don't fear Greece or Europe -- who cares about them, they have been making headlines for literally years and the beat of the bull market has drowned them out. I fear this (bull market leaders getting taken to the woodshed):
LULU, AAPL, CMG, IBM, HD, DHI -- all getting killed today and look like they have continued their downtrends.