Updates on Some Charts Posted Yesterday

June 26th, 2009 3:04 pm mylifemytrade Leave a comment Go to comments

2009-06-26-rimm-sub-60

DISCLAIMER: I own position in AAPL which is in significant loss, which could alter the way I think where AAPL is headed.

EDIT: I had mistakenly said that AAPL will gap down below $140. Someone in the comments pointed this out asking how and why did I think so. I meant to say $141.  I have added a 20day chart of AAPL that shows that $140.5 – $141.5 is a key level for AAPL. My thesis is a big gap down on Monday, which requires AAPL should open below this key level (AAPL being a big component of NQ).

2009-06-26-aapl-toast 2009-06-27-aapl-20day2009-06-26-goog-breakout 2009-06-26-fcx-flattening-out 2009-06-26-gdx-retracement 2009-06-26-ice-breakout

Categories: Technical Analysis Tags: , , , , ,


  • I am interested to see a breakdown of AAPL. AAPL is back in the channel, I doubt there will be a breakdown. So is FCX, but relatively compared to AAPL, FCX position is weak. But again the markets depend on AAPL, if AAPL is going up, there is no way the markets are going lower and neither is FCX.

    So, I will be watching AAPL closely. Either way if AAPL goes up, it would have to top @ 147, which I don't think will happen.
  • You are working with the premise that the direction in which AAPL goes, the same direction NQ goes and since NQ is the leading index, it will drag ES along with it - classic case of tail wagging the dog... But the tail can wag the dog for only so long...

    I am looking at it the other way, NQ looks like tired and seems to be in the process of putting in a lower high compared to early June high. I will post some charts in another post later in the day.
  • Wow those are some bold predictions. Could you explain why you think AAPL will gap below $140 on Monday? I don't quite see how your prediction follows from the chart...
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