The AAPL (Apple Inc.) short swing trade has hit the third & final price target (T3 & the 200-day EMA plus the bear flag measured target) for a 9% profit. In my previous post, earlier today, when T2 was hit, I stated my preference for sitting tight (i.e., holding/not expecting a bounce). At this time,I do believe the odds for a reaction are elevated. Regardless, as the final target, this trade & all associated posts will now be moved to the Completed Trades archives. Previous & updated daily charts below.
AAPL daily Jan 20th
AAPL daily 2 Jan 20th
With that being said, I still favor additional downside in both the major index ETFs (QQQ &SPY), as well as AAPL, in the coming days to weeks, with several more of the ‘checkmarks’ that I have been waiting for on the Mag 8 stocks triggering today, bounce or no bounce first.