Sep 032014
AAPL Looking Toppy(er)

As a follow-up to last week’s AAPL Looking Toppy post, after today’s high volume sell-off that took AAPL down well over 4% earlier today, I’m seeing a few technical developments that have further strengthened the bearish technical outlook that was previously outlined for AAPL (Apple Inc.): The RSI has now clearly fallen below the previously highlighted cluster of overbought readings, a common occurrence once a near-term (or more lasting) top in price has been reached. A very bearish bullish engulfing candlestick on high volume. Given, […continue reading]

 September 3, 2014 1:53 pm  General Market Analysis Tagged with:
Aug 272014
AAPL Looking Toppy

It will be interesting to see if AAPL (Apple Inc) wows the public next month with the widely expected larger iPhones, this oversized iPad or any other tricks it may have up its sleeve because the chart on AAPL is starting to look ripe for a correction. Besides this steep rising wedge with bearish divergences building on both the RSI & MACD, as this chart clearly illustrates, such overbought clusters on the RSI, such as those recently put in place, have traditionally preceded significant corrections […continue reading]

 August 27, 2014 10:23 am  General Market Analysis Tagged with:
May 082014
S&P 500 Top 10 Overview

I often like to publish a technical overview of the top components of an index or sector that may be setting up for a nice move as analyzing the charts of the most heavily weighted components will often give you a heads up on where the index or sector may be heading. Normally I will use a video format as it allows me to discuss all the nuances of the chart as well covering charts of the same stocks on multiple time frames. Today I’ve […continue reading]

 May 8, 2014 2:15 pm  General Market Analysis Tagged with: , , , , , , , , ,
Apr 112014
AAPL Update & Trading Commentary

Just to elaborate on my previous market comments, any bounce that may or may not materialize around the current support level on the Nasdaq 100 is expected to be a counter-trend rally in what I still believe to be the early stages of a much larger downtrend. Today the $NDX hit the first of four downside profit targets that have been listed on the $NDX live daily chart for some time now. My expectation at this time, which could change depending on how the charts […continue reading]

 April 11, 2014 1:00 pm  General Market Analysis, Trading Tips Tagged with:
Apr 042014
AAPL Breaking Below Triangle Pattern

AAPL (Apple Inc) is currently trading well below the symmetrical triangle. First downside target would be the 200ema/515.60 area.  click here to view the live daily chart of AAPL Also keep in mind that the 200-day EMA, which is the same as the 40-week EMA, has done an excellent job of defining major bull & bear trends in APPL in recent years as evidenced on this 10-year weekly chart. click here to view the live weekly chart of AAPL  

 April 4, 2014 1:06 pm  General Market Analysis Tagged with:
Apr 032014
AAPL Symmetrical Triangle Pattern

I’ll be watching AAPL (Apple Inc.) closely over the next few trading sessions as the price of this market leading stock is quickly closing in on the apex of this symmetrical triangle pattern. The downtrend line of that pattern is generated off of the Dec 5th peak in AAPL which came just two trading sessions before the AAPL Looking Increasingly Bearish  post in which a detailed case was made for a correction in Apple. From that Dec 5th peak, AAPL fell about 13% (same percentage […continue reading]

 April 3, 2014 9:42 am  General Market Analysis Tagged with:
Jan 302014
SPY, AAPL & XOM updates

The SPY/$SPX continues to consolidate above the T1 support zone and will likely move lower over the next few trading sessions.  Any break below yesterday’s low (which was right around the 38.2% fib retracement level) should open the door for a quick move down to the T2 area or lower.  However, as I like to say: Support is support until broken.  Therefore, shorting or adding to short exposure around current levels would not be objective.  Best to wait for a break below yesterday’s low IMO, […continue reading]

 January 30, 2014 11:11 am  General Market Analysis Tagged with: , ,