AAPL Discovers Gravity

A quick update on AAPL, which has reached two of our downside targets today… As we discussed prior to AAPL’s earnings report [see: All Eyes on AAPL] the stock had a gap to close and 200 DMA to backtest.  The danger in reaching both targets was that AAPL would have to descend below the triangle … continue reading →

Charts I’m Watching: Nov 5, 2018

Futures are back to flat, having bounced a bit on the Iran sanction news as it provided a modest (so far) bounce for oil and gas prices.The market has a wait and see feel to it this morning, with AAPL breaking down further……but, the algos all but ignoring it, focusing instead on dollar strength (TNX … continue reading →

Mixed Messages

The headlines have been coming fast and furious over the last 24 hours.  First, Trump’s tweet yesterday morning regarding trade negotiations with China touched off a rumor, declared false this morning, that a trade deal was imminent. But, SPX soared yesterday anyway. Then AAPL’s earnings came out.  The numbers were underwhelming; and, the company’s announcement … continue reading →

All Eyes on AAPL

Three months after AAPL’s “breakout,” it faces its first real test.  As we discussed in August [see: Engineering AAPL’s Breakout] the stock burst out of a long-term rising channel with the aid of several well-timed increases in its stock repurchase program. Now, it’s time to backtest that mediocre 12%-per-year channel it’s been in since 2010 … continue reading →