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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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Saturday, January 05, 2013

AAPL Bounce Coming?

This could be a possible scenario for AAPL as it approaches intersecting 50% channel levels as potential support to, ultimately, form a right shoulder of a large Head & Shoulders pattern over the next several months -- maybe far-fetched, but who knows?


The following Daily ratio chart of AAPL:NDX may offer some clues on the shorter-term outlook. At the moment, AAPL is underperforming the NDX as it approaches near-term support. However, Momentum has turned negative and dropped below the zero level once more...one to watch for hints of either a turnaround soon (on positively-diverging Momentum) or continued weakness on accelerating downside Momentum.



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