Apple Daily Technicals Comments

TRADING APPLE

TECHNICALS

APPLE Daily Technicals - Just a Rebound my Dear ? $AAPL #aapl
October 17 ( From TradingView )

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Here is coming the tricky part for Apple Shares. We broke the wedge and fell
like a rock to reach oversold levels. We re getting quite near of Apple Earning
Release (ER) that will bring back some players and finally, SP500 futures are
in a dead cat bounce mode.

For me, it will remain just a rebound unless we do close above $97.95 for
today. If we close above, then back to a bullish mode.

We will be facing tons a resistance levels til ER:
1) Lowest trading level on September 25 at $97.72
2) Resistance level of the new uptrend channel at $97.95
3) Lowest trading level on October 14 at $98.57
4) Resistance level from a trendline at $98.74
5) Finally, the weekly resistance level ( and wedge ) at $99.15.

But through the years, one thing I learned: anything can happen...

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) Seasonals favor outperformance til Oc 20: Apple Shares Behavior Before Q4 ER
3) SP500 futures are into a dead cat bounce mode ( as long as 1852.5 hold ).

On October 13, we broke the 20 DMA, then triggering the consolidation phase for Apple Shares from a bull trend.

To stay on a consolidation trend, we need to stay and have a daily close below $97.95 today, unless back into a bullish mode...

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.
We made a new high on a ratio basis compare to the SP500 on October 13. (3rd chart below - red line - ellipse).

I expect volatility to be above average today.

Relative Volatility fell to 1.36 - lowest since March 21 ( with stronger prices - a bad mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are back into the critical phase ( from 0.62 to 0.78 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are into a new uptrend channel that started on October 15 with $95.65 support and $97.95 as resistance.

We have a resistance trendline that started on September 25 with $98.74 (chart below - amber line).

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $99.15 ( broken ) as support and $102.07 as resistance. See 2nd chart below.

We have on a weekly basis, a downtrend channel that started on the week of September 1st with $94.79 as support and $102.07 as resistance. See 2nd chart below.

Starting to trade below $95.65 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.95 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.95 will give us another bullish impulse scenario and direct go towards $98.58 max $99.15 for now in the next few sessions.

Need to stay below on a daily close $97.95 to iAm in a Consolidation Mode... Unless back to a bullish stance.

A daily close below $95.18 but above $97.95 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $95.65 will mean for me that we are back into a nasty correction phase and another gap down towards $94.36 max $93.28.

Apple shares underperformed the SP500 on October 16 (see 3rd chart chart below).

Expect a day trading range between $96.70 - $98.00 with above average volatility.

Support : $96.70 and $96.14 and $95.66 Resistance : $97.95 and $98.57

RATIO AAPL Stock over SPX ( Blue Line )
SP500 Index ( Candles )

Oct 17

Here is coming the tricky part for Apple Shares. We broke the wedge and fell
like a rock to reach oversold levels. We re getting quite near of Apple Earning
Release (ER) that will bring back some players and finally, SP500 futures are
in a dead cat bounce mode.

For me, it will remain just a rebound unless we do close above $97.95 for
today. If we close above, then back to a bullish mode.

We will be facing tons a resistance levels til ER:
1) Lowest trading level on September 25 at $97.72
2) Resistance level of the new uptrend channel at $97.95
3) Lowest trading level on October 14 at $98.57
4) Resistance level from a trendline at $98.74
5) Finally, the weekly resistance level ( and wedge ) at $99.15.

But through the years, one thing I learned: anything can happen...

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) Seasonals favor outperformance til Oc 20: Apple Shares Behavior Before Q4 ER
3) SP500 futures are into a dead cat bounce mode ( as long as 1852.5 hold ).

On October 13, we broke the 20 DMA, then triggering the consolidation phase for Apple Shares from a bull trend.

To stay on a consolidation trend, we need to stay and have a daily close below $97.95 today, unless back into a bullish mode...

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

We made a new high on a ratio basis compare to the SP500 on October 13. (3rd chart below - red line - ellipse).

I expect volatility to be above average today.

Relative Volatility fell to 1.36 - lowest since March 21 ( with stronger prices - a bad mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are back into the critical phase ( from 0.62 to 0.78 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are into a new uptrend channel that started on October 15 with $95.65 support and $97.95 as resistance.

We have a resistance trendline that started on September 25 with $98.74 (chart below - amber line).

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $99.15 ( broken ) as support and $102.07 as resistance. See 2nd chart below.

We have on a weekly basis, a downtrend channel that started on the week of September 1st with $94.79 as support and $102.07 as resistance. See 2nd chart below.

Starting to trade below $95.65 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.95 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.95 will give us another bullish impulse scenario and direct go towards $98.58 max $99.15 for now in the next few sessions.

Need to stay below on a daily close $97.95 to iAm in a Consolidation Mode... Unless back to a bullish stance.

A daily close below $95.18 but above $97.95 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $95.65 will mean for me that we are back into a nasty correction phase and another gap down towards $94.36 max $93.28.

Apple shares underperformed the SP500 on October 16 (see 3rd chart chart below).

Expect a day trading range between $96.70 - $98.00 with above average volatility.

Support : $96.70 and $96.14 and $95.66 Resistance : $97.95 and $98.57

Oct 16 Damage Report

Yesterday I wrote: Apple Shares at Crossroads
For me, having a close today above the 50 DMA (at $99.70) will retrieve
that major slippage risk that Apple Shares is facing.

That wedge pattern will become crucial as we get near the Earnings Release
on October 20: breaking one side or the other will trigger finally a quick move
in price: $98.91 as support and $102.07 as resistance.

We finally broke the support level of the wedge at $98.91, triggering a nasty
bear move - catching up with the SP500...

Also, we broke the weekly channel support level at $99.15...

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) Seasonals favor outperformance til Oc 20: Apple Shares Behavior Before Q4 ER
3) We now must take into account a broken wedge pattern: 5th Chart Below - Amber Trendline
3) SP500 futures are into a bear mode ( as long as 1865.5 hold ).

On October 13, we broke the 20 DMA, then triggering the consolidation phase for Apple Shares from a bull trend.

To stay on a consolidation trend, we need to stay and have a daily close below $97.72 today, unless back into a bullish mode...

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

We made a new high on a ratio basis compare to the SP500 on October 13. (3rd chart below - red line - ellipse).

I expect volatility to be above average today.

Relative Volatility fell to 1.41 - lowest since March 20 ( with weaker prices - a bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.29 to 0.62 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We broke on October 14 a downtrend channel that started on October 9 with $99.21 support and $101.19 as resistance.

We broke a support trendline that started on September 25 with $98.62 as support (chart below - amber line).

We also broke a huge wedge pattern that started on September 2 with $98.91 as support and $102.07 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $99.15 ( broken ) as support and $102.07 as resistance. See 2nd chart below.

We have on a weekly basis, a downtrend channel that started on the week of September 1st with $94.79 as support and $102.07 as resistance. See 2nd chart below.

Starting to trade below $95.18 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.72 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.72 will give us another bullish impulse scenario and direct go towards $98.31 max $98.69 for now in the next few sessions.

Need to stay below on a daily close $97.72 to iAm in a Consolidation Mode... Unless back to a bullish stance.

A daily close below $95.18 but above $97.72 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $95.18 will mean for me that we are back into a nasty correction phase and another gap down towards $94.36 max $93.28.

Apple shares underperformed the SP500 on October 15 (see 3rd chart chart below).

Expect a day trading range between $96.10 - $97.70 with above average volatility.

Support : $96.14 and $95.18 and $94.79 Resistance : $97.72 and $98.04

Oct 15 Apple Shares at Crossroads ?

Apple Shares are at a crucial technical levels here:
1) We broke the 20 DMA ( Day Moving Average ) on October 13 at $100.47
2) We broke the 50 DMA on October 14 at $ 99.64
3) We broke the daily downtrend channel on October 14 at $99.50
3) We are testing the bottom of the wedge at $98.91 for today
4) We are under the weekly support in the uptrend channel at $99.15

So it is D-Day for Apple Shares.
For me, having a close today above the 50 DMA ( at $99.70 ) will retrieve
that major slippage risk that Apple Shares is facing.

On a relative basis, October 14 was the bottom historically speaking; See Apple Shares Behavior Before Q4 ER

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) Seasonals favor outperformance til Oc 20: Apple Shares Behavior Before Q4 ER
3) We now must take into account a wedge pattern
3) SP500 futures are into a bear mode ( as long as 1883 hold ).

On October 13, we broke the 20 DMA, then triggering the consolidation phase for Apple Shares from a bull trend.

To stay on a consolidation trend, we need to stay and have a daily close below $99.70 today ( the 50 DMA - Day Moving Average ), unless back into a bullish mode...

That wedge pattern will become crucial as we get near the Earnings Release on October 20: breaking one side or the other will trigger finally a quick move in price: $98.91 as support and $102.07 as resistance.
- 5th Chart Below - Amber Trendline

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

We made a new high on a ratio basis compare to the SP500 on October 13. (3rd chart below - red line - ellipse).

I expect volatility to be above average today.

Relative Volatility fell to 1.44 - lowest since May 15 ( with weaker prices - a bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.08 to 0.29 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We broke on October 14 a downtrend channel that started on October 9 with $99.21 support and $101.19 as resistance.

We have a support trendline that started on September 25 with $98.62 as support (chart below - amber line).

We are within a huge wedge pattern that started on September 2 with $98.91 as support and $102.07 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $99.15 as support and $102.07 as resistance. See 2nd chart below.

Starting to trade below $98.62 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.70 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.70 will give us another bullish impulse scenario and direct go towards $100.37 max $101.19 for now in the next few sessions.

Need to stay below on a daily close $99.70 to iAm in a Consolidation Mode... Unless back to a bullish stance.

A daily close below $98.62 but above $99.70 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $98.62 will mean for me that we are back into a nasty correction phase and another gap down towards $98.04 max $96.14.

Apple shares underperformed the SP500 on October 14 (see 3rd chart chart below).

Expect a day trading range between $98.30 - $99.70 with above average volatility.

Support : $98.62 and $98.04 Resistance : $99.70 and $100.37

Oct 14 In a Relative Way ?

Not much have changed for me: I expect Apple Shares to outperform SP500
til the Earnings Release but with that bad behavior of global markets, tough
for Apple Shares to trade up in price.

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) Seasonals favor outperformance til Oc 20: Apple Shares Behavior Before Q4 ER
3) We now must take into account a wedge pattern
3) SP500 futures are into a bear mode ( as long as 1887.5 hold ).

Yesterday, we broke the 20 DMA, then triggerening the consolidation phase
for Apple Shares from a bull trend.

To stay on a consolidation trend, we need to stay and have a daily close below $100.43 today ( the 20 DMA - Day Moving Average ), unless back into a bullish mode...

That wedge pattern will become crucial as we get near the Earnings Release on October 20: breaking one side or the other will trigger finally a quick move in price: $98.80 as support and $102.13 as resistance.
- 5th Chart Below - Amber Trendline

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

We made a new high on a ratio basis compare to the SP500 on October 13. (3rd chart below - red line - ellipse).

I expect volatility to be above average today.

Relative Volatility fell to 1.37 - lowest since March 26 ( with weaker prices - a bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.24 to -0.08 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We have a downtrend channel that started on October 9 with $99.50 support and $101.54 as resistance.

We are within a huge wedge pattern that started on September 2 with $98.80 as support and $102.13 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $99.33 as support and $102.13 as resistance. See 2nd chart below.

Starting to trade below $99.62 will mean to me extreme technical weakness...
Starting to trade AND stay above $101.54 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $101.54 will give us another bullish impulse scenario and direct go towards $102.38 max $102.94 for now in the next few sessions.

Need to stay below on a daily close $100.43 to iAm in a Consolidation Mode... Unless back to a bullish stance.

A daily close below $99.32 but above $101.54 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $99.62 will mean for me that we are back into a nasty correction phase and another gap down towards $98.31 max $96.14.

Apple shares outperformed the SP500 on October 13 (see 3rd chart chart below).

Expect a day trading range between $99.60 - $101.10 with above average volatility.

Support : $99.62 and $99.04 Resistance : $101.11 and $101.54

Oct 13 Apple Shares Q4 Behavior within a Wedgy Pattern ?

Apple Shares went through the turmoil of the Global Financial Markets
with a very good performance indeed.

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) Seasonals favor outperformance til Oc 20: Apple Shares Behavior Before Q4 ER
3) We now must take into account a wedge pattern
3) SP500 futures are into a dead cat bounce mode ( as long as 1880.5 hold ).

To stay on a bull trend, we need to stay and have a daily close above $100.52
today ( the 20 DMA - Day Moving Average ), unless back into a consolidation
mode...

That wedge pattern will become crucial as we get near the Earnings Release on October 20: breaking one side or the other will trigger finally a quick move in price: $98.67 as support and $102.19 as resistance.
- 5th Chart Below - Amber Trendline

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

We made a new high on a ratio basis compare to the SP500 on October 10. (3rd chart below - red line - ellipse).

I expect volatility to be above average today.

Relative Volatility fell to 1.40 - lowest since March 26 ( with stronger prices - a bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.10 to -0.24 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We still have to take into account an overlapp uptrend channel that started on October 1 with $100.06 support and $102.05 as resistance.

We are within a huge wedge pattern that started on September 2 with $98.67 as support and $102.19 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $99.6 as support ( being tested on October 7 ) and $106.35 as resistance. See 2nd chart below.

Starting to trade below $100.52 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.05 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.05 will give us another bullish impulse scenario and direct go towards $102.94 max $103.74 for now in the next few sessions.

Need to stay above on a daily close $100.52 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $100.52 but above $102.05 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.52 will mean for me that we are back into a nasty correction phase and another gap down towards $98.31 max $96.14.

Apple shares outperformed the SP500 on October 10 (see 3rd chart chart below).

Expect a day trading range between $100.10 - $101.50 with above average volatility.

Support : $100.52 and $100.06 Resistance : $101.54 and $102.05

Oct 10 iCahn Christmas Wish List ?

Mr iCahn; a reality check for you:
1) To let you know that I join you in your wish list for Apple Shares at $203
2) SP500 is in a bear wave
3) If it is that cheap, then why you do not buy more...

To stay on a bull trend, we need to stay and have a daily close above $100.57
today ( the 20 DMA - Day Moving Avergae ), unless back into a consolidation
mode...

I already fear saloon s door here - portofilo managers will sell those trade
at profit ( Apple, Facebook ,... ) to cover losses elsewhere...

Also, take note that we closed on October 7 a little below the weekly support
trendline at $98.80 - Second Chart Below - Ellipse

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) SP500 futures are into a bear mode ( as long as 1937 hold ).

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

We made a new high on a ratio basis compare to the SP500. ( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility fellrose to 1.50 - lowest since May 16 ( with stronger prices - a bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.87 to 0.10 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are not anymore within a downtrend channel that started on September 15 with $95.74 as support and $99.72 as resistance.

We still have to take into account an overlapp uptrend channel that started on October 1 with $99.88 support and $101.87 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $98.80 as support ( being tested on October 7 ) and $105.71 as resistance. See 2nd chart below.

Starting to trade below $100.57 will mean to me extreme technical weakness...
Starting to trade AND stay above $101.87 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $101.87 will give us another bullish impulse scenario and direct go towards $102.35 max $102.94 for now in the next few sessions.

Need to stay above on a daily close $100.57 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $100.57 but above $101.87 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.57 will mean for me that we are back into a nasty correction phase and another gap down towards $98.31 max $96.14.

Apple shares outperformed the SP500 on October 9 (see 3rd chart chart below).

Expect a day trading range between $99.40 - $101.00 with above average volatility.

Support : $100.57 and $99.88 Resistance : $101.54 and $101.87

October 9 iCahn Bid Too ?

Yesterday with the Dovish FED and iCahn was a complete and violent
turnaround on Apple shares:

1) We came back above the 50 DMA at $99.39
2) We came back above the 20 DMA at $100.59
3) We broke the downtrend Channel then at $100.07 ( today at $99.87 )
4) We had a Bullish Engulfing Pattern on Apple Shares.

To stay on a bull trend, we need to stay and have a daily close above $99.87
today, unless back into a consolidation mode...

Also, take note that we closed on October 7 a little below the weekly support
trendline at $98.80 - Second Chart Below - Ellipse

But do not be mislead here. That kind of trading behavior should continue for a few weeks; volatility will prevail on the global markets and on Apple Shares.

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) SP500 futures are into a dead cat bounce mode ( as long as 1940.5 hold ).

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

I must say that we closed above the 50 DMA on October 3 on a ratio basis compare to the SP500.
( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally rose to 1.80 ( with stronger prices - a very good mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are into the critical phase ( from 0.88 to 0.87 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are not anymore within a downtrend channel that started on September 15 with $96.07 as support and $100.07 as resistance.

We still have to take into account an overlapp uptrend channel that started on October 1 with $99.74 support and $101.72 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $98.80 as support ( being tested on October 7 ) and $105.71 as resistance. See 2nd chart below.

Starting to trade below $99.87 will mean to me extreme technical weakness...
Starting to trade AND stay above $101.72 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $101.72 will give us another bullish impulse scenario and direct go towards $102.35 max $102.94 for now in the next few sessions.

Need to stay above on a daily close $99.87 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $99.87 but above $101.72 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $99.87 will mean for me that we are back into a nasty correction phase and another gap down towards $98.31 max $96.14.

Apple shares outperformed the SP500 on October 8 (see 3rd chart chart below).

Expect a day trading range between $99.80 - $101.50 with above average volatility.

Support : $100.29 and $99.87 Resistance : $101.54 and $101.72

Oct 8 My Broken 50 DMA ?

Yesterday I wrote: A close today below the 50 DMA ( Day Moving Average )
at $99.34 will be seen a extreme technical weakness.

That broken 50 DMA is now at $99.36 and need to be reclaim before we
consider shifting to any bullish move for Apple Shares.

Also, take note that we closed yesterday a little below the weekly support
trendline at $98.80 - Second Chart Below - Ellipse

Another turmoil wave yesterday in global markets. Tha should continue
for a few weeks; volatility will prevail.

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) SP500 futures are into a bear mode ( as long as 1939 hold ).

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

I must say that we closed above the 50 DMA on October 3 on a ratio basis compare to the SP500.
( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally rose to 1.66 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are into the critical phase ( from 0.71 to 0.76 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We are still within a downtrend channel that started on September 15 with $96.07 as support and $100.07 as resistance.

We still have to take into account an overlapp uptrend channel that started on October 1 with $99.62 support and $101.54 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $98.80 as support ( being tested on October 7 ) and $105.71 as resistance. See 2nd chart below.

Starting to trade below $97.72 will mean to me extreme technical weakness...
Starting to trade AND stay above $100.07 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.62 will give us another bullish impulse scenario and direct go towards $100.64 max $101.37 for now in the next few sessions.

Need to stay below on a daily close $99.62 to iAm in a Bearish Mode... Unless back to a bullish stance.

A daily close below $99.62 but above $97.72 will mean for me that we are into a Bearish pattern trade scenario for a few sessions

A daily close below $97.72 will mean for me that we are back into a nasty correction phase and another gap down towards $97.07 max $96.14.

Apple shares outperformed the SP500 on October 7 (see 3rd chart chart below).

Expect a day trading range between $97.70 - $99.30 with above average volatility.

Support : $98.04 and $97.72 Resistance : $99.04 and $99.36

Oct 7 Failed Attempt ?

Yesterday was a 4 failed set up:
1) Tested the $100.22 level ( previous high of October 2 )
2) Tested the resistance trendline of the downtrend channel at $100.43
3) Kissed the 20 DMA then at $100.50
4) Closed with a nasty candle on a daily basis

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) SP500 futures are back into correction mode.

I think that those two combined will keep tremendous volatility in Apple Shares for the next few sessions.

A close today below the 50 DMA ( Day Moving Average ) at $99.34 will be seen a extreme technical weakness.

I must say that we closed above the 50 DMA on October 3 on a ratio basis compare to the SP500.
( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally rose to 1.76 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.41 to 0.71 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We are still within a downtrend channel that started on September 15 with $96.27 as support and $100.22 as resistance.

We have also an overlapp uptrend channel that started on October 1 with $99.34 support and $101.37 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $98.80 as support and $105.71 as resistance. See 2nd chart below.

Starting to trade below $97.72 will mean to me extreme technical weakness...
Starting to trade AND stay above $100.22 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $100.22 will give us another bullish impulse scenario and direct go towards $100.56 max $101.37 for now in the next few sessions.

Need to stay below on a daily close $100.22 to iAm in a Bearish Mode... Unless back to a bullish stance.

A daily close below $100.22 but above $97.72 will mean for me that we are into a Bearish pattern trade scenario for a few sessions

A daily close below $97.72 will mean for me that we are back into a nasty correction phase and another gap down towards $97.07 max $96.14.

Apple shares outperformed the SP500 on October 6 (see 3rd chart chart below).

Expect a day trading range between $98.70 - $100.20 with above average volatility.

Support : $98.70 and $98.40 Resistance : $99.62 and $100.22

Oct 6 Near Resuming Uptrend ?

Last Friday, we did closed slightly below my trigger level - so I keep that
bearish bet BUT near resuming Uptrend... Already breaking the $100.22
level will be the first sign...

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high
2) SP500 futures are in a dead cat bounce mode.

I think that those two combined will keep tremendous volatility in Apple
Shares for the next few sessions.

The other factor is that we ested the 50 DMA ( Day Moving Average )
on October 3 then at $99.32 and rebounded.

I must say that we closed above the 50 DMA on October 3 on a ratio basis compare to the SP500.
( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally rose to 1.85 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.64 to 0.41 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are still within a downtrend channel that started on September 15 with $96.42 as support and $100.43 as resistance.

We have also an overlapp downtrend channel that started on October 1 with $97.07 support and $99.29 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $98.80 as support and $105.71 as resistance. See 2nd chart below.

Starting to trade below $97.72 will mean to me extreme technical weakness...
Starting to trade AND stay above $100.22 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $100.22 will give us another bullish impulse scenario and direct go towards $101.21 max $101.54 for now in the next few sessions.

Need to stay below on a daily close $99.29 to iAm in a Bearish Mode... Unless back to a bullish stance.

A daily close below $99.29 but above $97.72 will mean for me that we are into a Bearish pattern trade scenario for a few sessions

A daily close below $97.72 will mean for me that we are back into a nasty correction phase and another gap down towards $97.07 max $96.14.

Apple shares underperformed the SP500 on October 3 (see 3rd chart chart below).

Expect a day trading range between $99.30 - $100.50 with above average volatility.

Support : $99.62 and $98.70 Resistance : $100.50 and $101.21

Sep 26 My Broken 50 DMA ?

Yesterday I wrote that: Risk are now tilted on the downside even IF we did
not broke yet the technical level of $101.56 ( closed at $101.75 )

Apple Shares are being driven by:
1) Headlines that keeps the Volatility high and pressure building from iPhon 6+
and also that Apple was pulling out their last update on the iOS Software
2) SP500 futures are in a bearish mode.

I think that those two combined will keep tremendous volatility in Apple
Shares for the next few sessions.

The other factor is that we broke the 50 DMA ( Day Moving Average )
on September 25 then at $98.66 - now at $98.72. For technicains, this is quite bad.
On the other side, we got near the weekly support trendline at $97.49 and stayed above...

But today will be the dead cat bounce story that will prevail; I see a bounce back towards the 50 DMA at $98.72 and $99.39 as first targets. I fear that some will be selling on strenght above those levels...

So from a bullish mode on September 25, we shift to a bearish mode as long as we stay below $99.39 for today.

I must say that we closed below the 50 DMA on September 25 on a ratio basis compare to the SP500.
( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally fell to 1.79 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.52 to 0.61 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We broke on September 25 a new downtrend channel that started on September 23 with $100.35 as support and $102.76 as resistance.

Also, we have a new support trendline at $99.39 ( see amber line - first chart below ).

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $97.49 as support and $104.51 as resistance. See 2nd chart below.

Starting to trade below $97.72 will mean to me extreme technical weakness...
Starting to trade AND stay above $100.09 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $100.09 will give us another bullish impulse scenario and direct go towards $100.73 max $101.44 for now in the next few sessions.

Need to stay below on a daily close $99.39 to iAm in a Bearish Mode... Unless back to a bullish stance.

A daily close below $99.39 but above $97.72 will mean for me that we are into a Bearish pattern trade scenario for a few sessions

A daily close below $97.72 will mean for me that we are back into a nasty correction phase and another gap down towards $96.80 max $96.14.

Apple shares underperformed the SP500 on September 25 (see 3rd chart chart below).

Expect a day trading range between $98.30 - $100.10 with above average volatility.

Support : $98.31 and $97.72 Resistance : $99.39 and $100.09

Sep 25

Saloon s Door Experiment ?

On September 23, having the annoucement that Apple Inches Closer To
iPhone 6 Launch In China was the factor bringing a nice rally...

But on September 24, stories on the new iPhone 6 + and also that Apple was
pulling out their last update on the iOS Software is creating for me
a Saloon s Door Pattern. Together, the issues are embarrassing for Apple at
a time when it is hoping to sell a record number of phones.

Risk are now tilted on the downside even IF we did not broke yet the
technical level of $101.56 ( closed at $101.75 )

And yesterday I wrote: Ideally, we will stay over a support trendline at
$101.80 and continue the rallye for technical strenght - it didn t.

SP500 is in a dead cat bounce mode that can bring some Counter Trend trades.

So from a consolidation mode on September 9, we shift to a bullish mode as long as $101.56 hold for today.

I must say that we closed above the 20 DMA on September 22 on a ratio basis compare to the SP500 and made a new high on September 23rd. ( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally fell to 1.77 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.48 to -0.52 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We have a new downtrend channel that started on September 23 with $100.35 as support and $102.76 as resistance.

Also, we have a new support trendline at $101.65 ( see amber line - first chart below ).

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $97.49 as support and $104.51 as resistance. See 2nd chart below.

Starting to trade below $101.56 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.76 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.20 will give us another bullish impulse scenario and direct go towards $103.74 max $104.49 for now in the next few sessions.

Need to stay above on a daily close $101.56 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $102.76 but above $101.56 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $101.56 will mean for me that we are back into a correction phase and another gap down towards $100.35 max $99.62.

Apple shares underperformed the SP500 on September 24 (see 3rd chart chart below).

Expect a day trading range between $100.40 - $102.30 with above average volatility.

Support : $100.95 and $100.35 Resistance : $101.80 and $102.35

Sep 24 The China Impact ?

Yesterday, having the annoucement that Apple Inches Closer To iPhone 6
Launch In China was the factor bringing a daily bullish engulfing pattern.

We have been testing again the 20 DMA (Day Moving Average)-now at $100.85
and rebounded violently. But do not be mislead, we will need to have a
confirmation sooner than later about that approval from China...

SP500 is in a dead cat bounce mode that can bring some Counter Trend trades.

I think that with that run up yesterday, a lot of profit taking was done as the
Relative Volatility was crushed to a level not seen since August 1; typical
reaction to huge bullish day...

Ideally, we will stay over a support trendline at $ 101.80 and continue the rallye for technical strenght.

So from a consolidation mode on September 9, we shift to a bullish mode as long as $101.56 hold for today.

I must say that we closed above the 20 DMA on September 22 on a ratio basis compare to the SP500 and made a new high on September 23rd. ( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally fell to 1.58 ( with stronger prices - a very bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.21 to -0.48 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We have an uptrend channel that started on September 16 with $102.20 as support and $104.57 as resistance.

Also, we have a new support trendline at $101.80 ( see amber line - first chart below ).

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $97.49 as support and $104.51 as resistance. See 2nd chart below.

Starting to trade below $101.56 will mean to me extreme technical weakness...
Starting to trade AND stay above $103.20 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.20 will give us another bullish impulse scenario and direct go towards $103.74 max $104.49 for now in the next few sessions.

Need to stay above on a daily close $101.56 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $103.20 but above $101.56 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $101.56 will mean for me that we are back into a correction phase and another gap down towards $100.90 max $99.62.

Apple shares outperformed the SP500 on September 23 (see 3rd chart chart below).

Expect a day trading range between $101.80 - $103.10 with above average volatility.

Support : $101.80 and $101.56 Resistance : $102.57 and $103.20

Sep 23 Critical 20 DMA ?

We have been testing again the 20 DMA (Day Moving Average)-now at $100.85
That start to make me quite nervous as IF we break it, then the next major
support is the 50 DMA at $98.41. Also, we almost broke the uptrend channel.

SP500 is in a correction mode that does not help at all Apple Shares and
we are post First Weekend iPhone Sales which usually see a correction.
So be prepared to see a pullback...

On the chart below, you can see the previous 3 years First Weekend iPhone
Sales Apple Shares Price which is normalize at Annoucement date at 100.
In 2012, it was September 23, September 24 in 2012 and October 17 in 2011.

What we see on average is that peak price is reached at the event date - in
our case will be September 22 and fall after that...

Chart of Apple Shares Price Normalize at 100 on Event Days
( 2011 to 2013 )

For now, that 20 DMA is my guide technically speaking ( now at $100.85 )...

So from a consolidation mode on September 9, we shift to a bullish mode as long as $100.85 hold for today.

I must say that we closed above the 20 DMA on September 22 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility to be above average today.

Relative Volatility finally fell to 1.76 from September 15 low of 1.75 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.28 to -0.21 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We have an uptrend channel that started on September 16 with $101.63 as support and $104.02 as resistance.

Also, we have a new resistance trendline at $101.99 ( see amber line - first chart below ).

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $97.49 as support and $104.51 as resistance. See 2nd chart below.

Starting to trade below $100.85 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.35 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.35 will give us another bullish impulse scenario and direct go towards $103.05 max $103.74 for now in the next few sessions.

Need to stay above on a daily close $100.85 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $102.35 but above $100.85 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.85 will mean for me that we are back into a correction phase and another gap down towards $99.39 max $98.41.

Apple shares outperformed the SP500 on September 22 (see 3rd chart chart below).

Expect a day trading range between $100.00 - $101.40 with above average volatility.

Support : $100.58 and $100.09 Resistance : $101.44 and $101.99

Sep 22 D-Day for First Weekend iPhone Sales ?

All eyes on the release this morning that should come around at 8.30...

Interesting read:
Expectations For Apple's iPhone 6 First Weekend Sales Are Muted. Set Up To Beat?

On the chart below, you can see the previous 3 years First Weekend iPhone
Sales Apple Shares Price which is normalize at Annoucement date at 100.
In 2012, it was September 23, September 24 in 2012 and October 17 in 2011.

What we see on average is that peak price is reached at the event date - in
our case will be September 22 and fall after that...

Chart of Apple Shares Price Normalize at 100 on Event Days
( 2011 to 2013 )

For now, that 20 DMA is my guide technically speaking ( now at $100.86 )...

So from a consolidation mode on September 9, we shift to a bullish mode as long as $100.86 hold for today.

We have a new uptrend channel with $101.08 as support and $103.47 as resistance.

Also, I must say that we closed below the 20 DMA on September 19 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility to be well above average today.

Relative Volatility finally rose to 2.03 from September 15 low of 1.75 ( with weaker prices - a bad mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.00 to -0.28 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We have an uptrend channel that started on September 16 with $101.08 as support and $103.47 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $97.49 as support and $104.51 as resistance. See 2nd chart below.

Starting to trade below $100.86 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.90 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.90 will give us another bullish impulse scenario and direct go towards $103.74 max $104.49 for now in the next few sessions.

Need to stay above on a daily close $100.86 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $102.90 but above $100.86 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.86 will mean for me that we are back into a correction phase and another gap down towards $99.39 max $98.89.

Apple shares underperformed the SP500 on September 19 (see 3rd chart chart below).

Expect a day trading range between $101.40 - $102.80 with above average volatility.

Support : $100.86 and $100.09 Resistance : $101.44 and $101.80

MACRO LEVELS
Support : $96.14 and $98.30 Resistance : $103.74 and $105.53

Sep 19

On the chart below, you can see the previous 3 years First Weekend iPhone
Sales Apple Shares Price which is normalize at Annoucement date at 100.
In 2012, it was September 23, September 24 in 2012 and October 17 in 2011.

What we see on average is that peak price is reached at the event date - in
our case will be September 22 and fall after that...

Chart of Apple Shares Price Normalize at 100 on Event Days
( 2011 to 2013 )

For now, that 20 DMA is my guide technically speaking ( now at $100.84 )...

So from a consolidation mode on September 9, we shift to a bullish mode as long as $100.84 hold for today.

We have a new uptrend channel with $100.53 as support and $102.93 as resistance.

Also, I must say that we closed above the 20 DMA on September 10 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility still be above average today.

Relative Volatility finally rose to 1.92 from September 15 low of 1.75 ( with stronger prices - a good mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.17 to 0.00 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We have an uptrend channel that started on September 16 with $100.53 as support and $102.93 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.95 as support and $103.97 as resistance. See 2nd chart below.

Starting to trade below $100.84 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.93 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.93 will give us another bullish impulse scenario and direct go towards $103.74 max $104.49 for now in the next few sessions.

Need to stay above on a daily close $100.84 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $102.93 but above $100.84 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.84 will mean for me that we are back into a correction phase and another gap down towards $99.39 max $98.89.

Apple shares underperformed the SP500 on September 18 (see 3rd chart chart below).

Expect a day trading range between $101.40 - $102.80 with above average volatility.

Support : $101.52 and $101.11 Resistance : $102.35 and $102.93

Sep 18 The 20 DMA Tested Again ?

We did tested and closed again above the 20 DMA ( Day Moving Average )
on September 17 then at $100.72 ( now at $100.78 ).

For now, that 20 DMA is my guide technically speaking...

The FED meeting now behind us, it will retrieve some volatility...

But do not be misled here...

Volatility will still prevail on the trading of Apple Shares. SP500 Futures
turned bullish on September 16 and expectations on the week end sales of
the iPhone6 are trough the sky. Do not forget that China will not be in
those numbers.

So from a consolidation mode on September 9, we shift to a bullish mode as long as $100.78 hold for today.

We have a new very steep uptrend channel with $102.27 as support and $104.63 as resistance.

Also, I must say that we closed above the 20 DMA on September 10 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility still be above average today.

Relative Volatility finally rose to 1.94 from September 15 low of 1.75 ( with stronger prices - a good mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.45 to -0.27 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We have a new very steep uptrend channel that started on September 16 with $102.27 as support and $104.63 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.95 as support and $103.97 as resistance. See 2nd chart below.

Starting to trade below $100.78 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.78 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.05 will give us another bullish impulse scenario and direct go towards $103.74 max $104.49 for now in the next few sessions.

Need to stay above on a daily close $100.78 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $103.05 but above $100.78 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.78 will mean for me that we are back into a correction phase and another gap down towards $99.39 max $98.89.

Apple shares outperformed the SP500 on September 17 (see 3rd chart chart below).

Expect a day trading range between $101.40 - $102.80 with above average volatility.

Support : $101.44 and $101.11 Resistance : $102.19 and $102.78

Sep 17 The 20 DMA Test ?

After the failed wedge on September 15 and the gap down of the China
news on September 16, a few technical comments here:

1) We did test the bottom of a previous bull channel and rebounded
( see 1st chart below )
2) We did closed above the 20 DMA ( Day Moving Average ) on September
16 then at $100.64 ( now at $100.72 ).
3) Relative Volatility rose on the late rebound - a good sign.

All that to say that with that shake out, Apple Shares behave quite - well.
But do not be misled here...

Volatility will still prevail on the trading of Apple Shares. SP500 Futures turned bullish on September 16 and expectations on the week end sales of the iPhone6 are trough the sky. Do not forget that China will not be in
those numbers. Also, the FED meeting release today will add to volatility a lot especially IF they drop the considerable time on keeping low Fed rates...

So from a consolidation mode on September 9, we shift to a bullish mode as long as $100.72 hold for today.

We broke on September 15 a very steep uptrend channel with $102.57 as support and $109.50 as resistance.

Also, I must say that we closed above the 20 DMA on September 10 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility still be above average today.

Relative Volatility finally rose to 1.94 from September 15 low of 1.75 ( with weaker prices - a good mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.45 to -0.27 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are not anymore within a very steep uptrend channel that started on September 9 with $102.57 as support and $109.50 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.95 as support and $103.97 as resistance. See 2nd chart below.

Starting to trade below $100.72 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.78 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.05 will give us another bullish impulse scenario and direct go towards $103.74 max $104.49 for now in the next few sessions.

Need to stay above on a daily close $100.64 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $103.05 but above $100.64 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.72 will mean for me that we are back into a correction phase and another gap down towards $99.39 max $98.58.

Apple shares underperformed the SP500 on September 16 (see 3rd chart chart below).

Expect a day trading range between $99.60 - $101.50 with above average volatility.

Support : $100.72 and $100.09 Resistance : $101.44 and $102.19

Sep 16

My Failed Rising Wedge ?

Yesterday I wrote about a rising wedge: we did trade above the resistance
trendline then at $102.78 and closed below the support trendline then at
$102.57 ( see 1st chart below - ellipse - bottom of the channel as the support
trendline and the amber line as the resistance trendline ) . That tells me that
we will not have a direct bullish impulse but at best a choppy grinding kind
of market...

I was quite surprise that with that press release on Apple, we did not even
challenge the previous high of $103.74 - high expectations already built in?

We did close again above the 20 DMA ( Day Moving Average ) on Sep 15 at
$100.64.

Volatility will still prevail on the trading of Apple Shares. SP500 Futures turned bearish on September 12 and expectations on the week end sales of the iPhone6 are trough the sky. Do not forget that China will not be in
those numbers. Also, the FED meeting release tomorrow will add to volatility a lot especially IF they drop the considerable time on keeping low Fed rates...

So from a consolidation mode on September 9, we shift to a bullish mode as long as $100.64 hold for today.

We broke on September 15 a very steep uptrend channel with $102.57 as support and $109.50 as resistance.

Also, I must say that we closed above the 20 DMA on September 10 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility still be above average today.

Relative Volatility crashed to 1.75 from September 3rd high of 2.61 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.32 to -0.45 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are not anymore within a very steep uptrend channel that started on September 9 with $102.57 as support and $109.50 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.95 as support and $103.97 as resistance. See 2nd chart below.

Starting to trade below $100.64 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.78 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.05 will give us another bullish impulse scenario and direct go towards $103.74 max $104.49 for now in the next few sessions.

Need to stay above on a daily close $100.64 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $103.05 but above $100.64 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.64 will mean for me that we are back into a correction phase and another gap down towards $99.39 max $98.58.

Apple shares outperformed the SP500 on September 15 (see 3rd chart chart below).

Expect a day trading range between $101.10 - $102.60 with above average volatility.

Support : $101.44 and $101.08 Resistance : $102.57 and $103.05

Sep 15 My Rising Wedge ?

We have a Daily Rising Wedge ( see 1st chart below - bottom of the channel
as the support trendline and the amber line as the resistance trendline )
with $102.57 as support and $102.78 as resistance. Most of the time, that
technical set up is bearish... So a daily close below $102.57 will be a first
sign of reversal.. Let s wait at which level we close today...

We did close again above the 20 DMA ( Day Moving Average ) on Sep 12 at
$100.46.

Volatility will still prevail on the trading of Apple Shares. SP500 Futures
turned bearish on September 12 and expectations on the week end sales
of the iPhone6 are trough the sky. Do not forget that China will not be in
those numbers.

So from a consolidation mode on September 9, we shift to a bullish mode as long as $100.46 hold for today.

We are within a very steep uptrend channel with $102.57 as support and $109.50 as resistance.

Also, I must say that we closed above the 20 DMA on September 10 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility still be above average today.

Relative Volatility crashed to 1.92 from September 3rd high of 2.61 ( with stronger prices - a good mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.0 to -0.32 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are within a very steep uptrend channel that started on September 9 with $102.57 as support and $109.50 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.95 as support and $103.97 as resistance. See 2nd chart below.

Starting to trade below $100.46 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.78 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.78 will give us another bullish impulse scenario and direct go towards $103.20 max $103.74 for now in the next few sessions.

Need to stay above on a daily close $100.46 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $102.78 but above $100.46 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.46 will mean for me that we are back into a correction phase and another gap down towards $99.39 max $98.58.

Apple shares outperformed the SP500 on September 12 (see 3rd chart chart below).

Expect a day trading range between $101.10 - $102.50 with above average volatility.

Support : $101.08 and $100.70 Resistance : $102.17 and $102.78

Sep 12 A Step by Step Mode ?

By closing above the 20 DMA ( Day Moving Average ) on September 10, the
wind have turned to a bullish stance for Apple Shares. But do not be misled
here; it will be a step by step kind of market.

What I mean by that is that Apple Shares will continue the bull process
but with some air pockets on the way... Volatility will still prevail.
We have a final seasonal bullish impulse on the SP500 Futures til
September 20; after that, a major correction on the way...

So from a consolidation mode on September 9, we shift to a bullish mode as
long as $100.25 hold for today.

We are within a very steep uptrend channel with $100.88 as support and $107.90 as resistance.

I don t know if you noticed, but the support level of the weekly channel is $96.32 and we did trade a low of $96.14 on September 9 and rebounded from there; See 2nd chart below.

Also, I must say that we closed above the 20 DMA on September 10 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility still be above average today.

Relative Volatility crashed to 1.98 from September 3rd high of 2.61 ( with stronger prices - a good mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.23 to 0.00 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are within a very steep uptrend channel that started on September 9 with $100.88 as support and $107.90 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.32 as support and $103.37 as resistance. See 2nd chart below.

Starting to trade below $100.25 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.17 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.17 will give us another bullish impulse scenario and direct go towards $102.78 max $103.20 for now in the next few sessions.

Need to stay above on a daily close $100.25 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $102.17 but above $100.25 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.25 will mean for me that we are back into a correction phase and another gap down towards $98.58 max $97.79.

Apple shares outperformed the SP500 on September 11 (see 3rd chart chart below).

Expect a day trading range between $100.70 - $101.90 with above average volatility.

Support : $100.70 and $100.25 Resistance : $101.50 and $102.17

Sep 11 My Broken 20 DMA ?

Yesterday I wrote: Breaking one DMA will then trigger the next big price
shift and will make all the difference in the next price scenario.
We did finally break the 20 DMA ( Day Moving Average ) on September 10
at $99.79. That should bring some momentum players...

So from a consolidation mode, we shift to a bullish mode as long as $99.42
hold for today.

We are within a new uptrend channel with $99.42 as support and $106.34
as resistance.

I don t know if you noticed, but the support level of the weekly channel is $96.32 and we did trade a low of $96.14 and rebounded from there; See 2nd chart below.

Also, I must say that we closed above the 20 DMA on September 10 on a ratio basis compare to the SP500
( 3rd chart below - red line - ellipse ).

I expect volatility still be above average today.

Relative Volatility crashed to 1.95 ( with strongerer prices - a good mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.41 to 0.23 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are within a new uptrend channel that started on September 9 with $99.42 as support and $106.34 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.32 as support and $103.37 as resistance. See 2nd chart below.

Starting to trade below $99.79 will mean to me extreme technical weakness...
Starting to trade AND stay above $101.50 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $101.50 will give us another bullish impulse scenario and direct go towards $102.17 max $103.08 for now in the next few sessions.

Need to stay above on a daily close $99.42 to iAm in a Bullish Mode... Unless back to a bearish stance.

A daily close below $101.50 but above $99.42 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $99.42 will mean for me that we are back into a severe correction phase and another gap down towards $98.58 max $97.79.

Apple shares outperformed the SP500 on September 10 (see 3rd chart chart below).

Expect a day trading range between $100.00 - $101.50 with above average volatility.

Support : $100.04 and $99.79 Resistance : $101.11 and $101.50

Sep 10 Still Into Consolidation Phase ?

Yesterday I wrote: A daily close below $99.69 but above $97.07 will mean for
me that we are into a Consolidation pattern trade scenario for a few sessions
We did closed at $97.99...

Not much have changed for me; we are still caught within the 2 DMAs
( Day Moving Average ): ( 20 DMA at $99.79 - 50 DMA at $97.19 ).

Breaking one DMA will then trigger the next big price shift and will make all
the difference in the next price scenario.

Relative Volatility crashed telling me that weak hands are out...

We are within a downtrend channel with $95.87 as support and $100.48 as resistance.
Also, overlap uptrend channel with $98.31 support and $100.62 as resistance.

We need a daily close above the 20 DMA to be back in bullish mode ( $99.79 ).
We went from a bearish mode to a consolidation mode on September 4 as long as $97.19 hold.

Also, I must say that we closed below the 50 DMA on September 8 on a ratio basis compare to the SP500 ( 3rd chart below - red line - ellipse ). The last time we broke that line was January 2 2014. Apple Shares lost 3.2% in the next 7 trading sessions before resuming uptrend.

I expect volatility still be above average today.

Relative Volatility crashed to 2.02 ( with weaker prices - a bad mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.03 to 0.41 ): Usually a negative correlation bring a bullish pattern for Apple Shares.

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are within a downtrend channel that started on September 2 with $95.87 as support and $100.48 as resistance. Also, an overlap uptrend channel that started on September 4 with $98.31 resistance and $100.62 support.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.32 as support and $103.37 as resistance. See 2nd chart below.

Starting to trade below $97.19 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.79 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.79 will give us another bullish impulse scenario and direct go towards $100.09 max $100.70 for now in the next few sessions.

Need to stay above on a daily close $97.19 to iAm in a Consolidation Mode... Unless back to a bearish stance.

A daily close below $99.79 but above $97.19 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $97.19 will mean for me that we are back into a severe correction phase and another gap down towards $95.97 max $94.84.

Apple shares outperformed the SP500 on September 9 (see 3rd chart chart below).

Expect a day trading range between $96.80 - $98.60 with above average volatility.

Support : $97.19 and $96.80 Resistance : $97.79 and $98.58

Sep 9 D-Day for Apple SE ?

Today is D-Day for Apple SE ( Special Event ). Live video at 10am PDT

The option market ( 98 straddle Sep 12 ) is pricing a 4.3% move.
So with yesterday s close at 98.36 then $94.17 to $102.55 expected range.

Not much have changed for me; we are still caught within the DMAs
( Day Moving Average ): ( 20 DMA at $99.69 - 50 DMA at $97.07 )
but I think we will challenge seriously the 20 DMA today.

Breaking one DMA will then trigger the next big price shift and will make all
the difference in the next price scenario.

Do not forget the SE ( Special Event ) today. My research of the week-end( RV Going Through the Roof ? ) mention some risks for the SE: Not only expectations are high for new products ( iWatch, mobile Payments, iPad Air 2)but for me the timing of availability of those products are crucial in managing these expectations...

We are within a downtrend channel with $96.34 as support and $100.98 as resistance.
Also, overlap uptrend channel with $98.32 support and $101.67 resistance.
A new and third uptrend channel with $98.18 support and $100.49 resistance.

We need a daily close above the 20 DMA to be back in bullish mode ( $99.69 ).
We went from a bearish mode to a consolidation mode on September 4 as long as $97.07 hold.

Also, I must say that we closed below the 50 DMA on a ratio basis compare to the SP500 ( 3rd chart below - red line - ellipse ). The last time we broke that line was January 2 2014. Apple Shares lost 3.2% in the next 7 trading sessions before resuming uptrend.

I expect volatility will be insane this afternoon.

Relative Volatility fell to near the high ever 2.39 vs 2.80 ( with stronger prices - a good mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are not anymore into the critical phase ( from -0.06 to -0.03 ): Usually a negative correlation bring a bullish pattern for Apple Shares.

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are within a downtrend channel that started on September 2 with $96.34 as support and $100.98 as resistance. Also, an overlap uptrend channel that started on September 4 with $98.32 resistance and $101.67 support. A new and third uptrend channel that strated on Sep 2 with $98.18 support and $100.49 resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.32 as support and $103.37 as resistance. See 2nd chart below.

Starting to trade below $97.07 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.69 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.69 will give us another bullish impulse scenario and direct go towards $100.09 max $100.70 for now in the next few sessions.

Need to stay above on a daily close $98.18 to iAm in a Consolidation Mode... Unless back to a bearish stance.

A daily close below $99.69 but above $97.07 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $97.07 will mean for me that we are back into a severe correction phase and another gap down towards $95.97 max $94.84.

Apple shares underperformed the SP500 on September 8 (see 3rd chart chart below).

Expect a day trading range between $94.80 - $102.80 with above average volatility.

Support : $98.58 and $97.79 Resistance : $99.39 and $100.09

Sep 8 Still Caught Between the DMAs ?

Not much have changed for me; we are still caught within the DMAs
( Day Moving Average ): ( 20 DMA at $99.51 - 50 DMA at $96.92 )
but I think we will challenge seriously the 20 DMA today.

Breaking one DMA will then trigger the next big price shift and will make all
the difference in the next price scenario.

Do not forget the SE ( Special Event ) tomorrow. My research of the week-end
( RV Going Through the Roof ? ) mention some risks for the SE: Not only
expectations are high for new products ( iWatch, mobile Payments, iPad Air 2)
but for me the timing of availability of those products are crucial in managing
these expectations...

We are within a downtrend channel with $96.88 as support and $101.56 as resistance.
Also, overlap uptrend channel with $98.83 resistance and $101.15 support.

We need a daily close above the 20 DMA to be back in bullish mode ( $99.51 ).
We went from a bearish mode to a consolidation mode on September 4 as long as $96.92 hold.

Also, I must say that we are testing the 50 DMA on a ratio basis compare to the SP500 and rebounding from it is good technically speaking ( 3rd chart below - red line - ellipse ). The last time we broke that line was January 2 2014. Apple Shares lost 3.2% in the next 7 trading sessions before resuming uptrend.

I expect volatility picking up a lot getting near SE. Especially that the SP500 Futures are now within a tiny correction phase, it will add to the already very volatile Apple Shares...

Relative Volatility fell to near the high ever 2.52 vs 2.80 ( with stronger prices - a good mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.42 to -0.06 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

We are within a downtrend channel that started on September 2 with $96.88 as support and $101.56 as resistance. Also, an overlap uptrend channel that started on September 4 with $98.83 resistance and $101.15 support.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $96.32 as support and $103.37 as resistance. See 2nd chart below.

Starting to trade below $96.92 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.51 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.51 will give us another bullish impulse scenario and direct go towards $100.09 max $100.70 for now in the next few sessions.

Need to stay above on a daily close $98.83 to iAm in a Consolidation Mode... Unless back to a bearish stance.

A daily close below $99.51 but above $96.92 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $96.92 will mean for me that we are back into a severe correction phase and another gap down towards $95.97 max $94.84.

Apple shares outperformed the SP500 on September 5 (see 3rd chart chart below).

Expect a day trading range between $98.80 - $100.10 with above average volatility.

Support : $98.83 and $98.58 Resistance : $99.51 and $100.09

Sep 5 Caught Between the DMAs ?

Apple Shares did try to get over the 20 DMA ( Day Moving Average ) yesterday
( then at $99.13 ) but failed to do so. It did also test yesterday in the
pre-market trading session the 50 DMA ( then at $96.59 ).

I think Apple Shares will be caught between those two DMA s for a few
sessions with still a lot of volatility ( 20 DMA at $99.29 - 50 DMA at $96.75 )
for today.

Breaking one DMA will then trigger the next big price shift and will make all
the difference in the next price scenario.

We are within a downtrend channel with $97.45 as support and $102.11 as resistance.

We need a daily close above the 20 DMA to be back in bullish mode ( $99.29 ).
We went from a bearish mode to a consolidation mode yesterday as long as $96.75 hold.

Also, I must say that we are testing the 50 DMA on a ratio basis compare to the SP500 ( 3rd chart below - red line - ellipse ). The last time we broke that line was January 2 2014. Apple Shares lost 3.2% in the next 7 trading sessions before resuming uptrend.

I expect volatility picking up a lot getting near SE. Especially that the SP500 Futures are now within a tiny correction phase, it will add to the already very volatile Apple Shares...

Relative Volatility fell to near the high ever 2.44 vs 2.80 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is bearish for Apple Shares and finally, Correlation are not anymore into the critical phase ( from 0.15 to 0.42 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We are within a downtrend channel that started on September 2 with $97.45 as support and $102.11 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.70 as support and $102.73 as resistance ( broken on August 28 ). See 2nd chart below.

Starting to trade below $96.75 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.29 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.29 will give us another bullish impulse scenario and direct go towards $100.09 max $100.70 for now in the next few sessions.

Need to stay above on a daily close $97.45 to iAm in a Consolidation Mode... Unless back to a bearish stance.

A daily close below $99.29 but above $96.75 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $96.75 will mean for me that we are back into a severe correction phase and another gap down towards $95.97 max $94.84.

Apple shares underperformed the SP500 on September 4 (see 3rd chart chart below).

Expect a day trading range between $97.50 - $99.30 with above average volatility.

Support : $97.79 and $97.45 Resistance : $98.58 and $99.29

Sep 4 From Euphoria Phase to a Reality Check ?

Yesterday I wrote: The past few sessions have been the Apple Fever story
just before the SE ( Special Event ) due September 9. But now, with that run
up, we are getting near the Euphoria Phase as the daily and weekly channel
have been broken ( see charts below ).

That tells me that volatility will increase.

Now that we did have a closing session below the 20 DMA ( Day Moving
Average ) : Technical Observation of the Day , I do not see why we should
not test or getting near the 50 DMA now at $96.59 ( including the pre-market
trading session - price at time of writing is $97.10 ).

Breaking it or not will make all the difference in the next price scenario.

We are within a new downtrend channel with $97.98 as support and $102.65 as resistance.

We need a daily close above the 20 DMA to be back in bullish mode ( $99.13 ).

I expect volatility picking up a lot getting near SE.

Relative Volatility rose to near the high ever 2.57 vs 2.80 ( with weaker prices - a very bad mix - see 4rth chart below ) and Counter Trend is neutral for Apple Shares and finally, Correlation are into the critical phase ( from 0.52 to 0.15 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We are within a new downtrend channel that started on September 2 with $97.98 as support and $102.65 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.70 as support and $102.73 as resistance ( broken on August 28 ). See 2nd chart below.

Starting to trade below $96.59 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.13 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.98 will give us another bullish impulse scenario and direct go towards $98.58 max $99.13 for now in the next few sessions.

Need to stay below on a daily close $97.98 to iAm in a Bearish Mode...

A daily close below $97.98 but above $96.59 will mean for me that we are into a Bearish pattern trade scenario for a few sessions

A daily close below $96.59 will mean for me that we are back into a severe correction phase and another gap down towards $95.97 max $94.84.

Apple shares underperformed the SP500 on September 3 (see 3rd chart chart below).

Expect a day trading range between $96.60 - $98.60 with above average volatility.

Support : $96.80 and $96.59 Resistance : $97.98 and $98.58

Sep 3 From Apple Fever to Euphoria Phase ?

The past few sessions have been the Apple Fever story just before the
SE ( Special Event ) due September 9.

But now, with that run up, we are getting near the Euphoria Phase as the
daily and weekly channel have been broken ( see charts below ).

In my special research of the week end on that ( APPLE Volatility Technicals
- High Expectations Already ? ), I say that this year, the expectations
already priced into the RV ( Realtive Volatility ) is at his highest compare to
the previous three years.

Now, three main factors are still driving the price of Apple Shares: SE Rumours, bullish Counter Trend Behavior and bearish Correlation Risks. That tells me that volatility will increase.

We are within a new uptrend channel ( overlap ) with $103.42 as support and $105.26 as resistance.
Also, we have an uptrend channel with $101.65 as support and $103.56 as resistance.

We need a daily close above the 103.42 level for that Euphoria Phase to continue.
We need a daily close above the 101.65 level for that Bullish Trend to continue. Unless, we will be back in a correction mode IF that level is broken.

I expect volatility picking up a lot getting near SE.

Relative Volatility fell ( with stronger prices - a bad mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are back into the critical phase ( from 0.55 to 0.52 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

We are still within an uptrend channel that started on August 19 with $101.65 as support and $103.56 as resistance.

Also, we are within a new uptrend channel ( overlap ) that started on August 27 with $103.42 as support and $105.26 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.70 as support and $102.73 as resistance ( broken on August 28 ). See 2nd chart below.

Starting to trade below $101.65 will mean to me extreme technical weakness...
Starting to trade AND stay above $103.56 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.56 will give us another bullish impulse scenario and direct go towards $104.10 max $104.51 for now in the next few sessions.

Need to stay above on a daily close $101.65 to iAm in a Bullish Mode...

A daily close below $103.56 but above $101.65 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $101.65 will mean for me that we are back into a correction phase and another gap down towards $100.70 max $99.32.

Apple shares outperformed the SP500 on September 2 (see 3rd chart chart below).

Expect a day trading range between $103.00 - $104.10 with average volatility.

Support : $103.42 and $102.72 Resistance : $104.10 and $104.51

Sep 2 Apple Fever Before SE ?

Apple Fever is rising just before the SE ( Special Event ) due September 9.

In my special research of the week end on that ( APPLE Volatility Technicals
- High Expectations Already ? ), I say that this year, the expectations
already priced into the RV ( Realtive Volatility ) is at his highest compare to
the previous three years.

Now, three main factors are still driving the price of Apple Shares: SE
Rumours, bullish Counter Trend Behavior and bearish Correlation Risks.
That tells me that volatility will increase.

We are still within an uptrend channel with $101.42 as support and $103.34 as resistance.

We need a daily close above the 101.42 level for that trend to continue.
Unless, we will be back in a correction mode IF that level is broken.

I expect volatility picking up a lot getting near SE.

Relative Volatility rose ( with weaker prices - a bad mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are back into the critical phase ( from 0.55 to 0.55 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

We are still within an uptrend channel that started on August 19 with $101.42 as support and $103.34 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.70 as support and $102.73 as resistance ( broken on August 28 ). See 2nd chart below.

Starting to trade below $101.42 will mean to me extreme technical weakness...
Starting to trade AND stay above $103.34 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.34 will give us another bullish impulse scenario and direct go towards $103.96 max $104.29 for now in the next few sessions.

Need to stay above on a daily close $101.42 to iAm in a Bullish Mode...

A daily close below $103.34 but above $101.42 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $101.42 will mean for me that we are back into a correction phase and another gap down towards $100.70 max $99.32.

Apple shares underperformed the SP500 on August 29 (see 3rd chart chart below).

Expect a day trading range between $102.50 - $103.60 with average volatility.

Support : $102.50 and $102.17 Resistance : $103.56 and $103.96

August 29 Still into That Uptrend Channel ?

Yesterday close above the $102.17 put us back into the bullish camp.
But do not be mislead. Firday, end of the month, outperformance of
Apple Shares over SP500 this month will bring a lot of volatility.
It will be a trader dream kind of market.

Now, three main factors are still driving the price of Apple Shares: Rumours,
bullish Counter Trend Behavior and bearish Correlation Risks.
That tells me that volatility will increase.

We are still within an uptrend channel with $101.18 as support and
$103.12 as resistance.

We need a daily close above the 101.18 level for that trend to continue.
Unless, we will be back in a correction mode IF that level is broken.

I expect volatility to be average today but picking up a lot getting around Labor Day.

Relative Volatility fell ( with stronger prices - a good mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares and finally, Correlation are back into the critical phase ( from 0.65 to 0.55 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

We are still within an uptrend channel that started on August 19 with $101.18 as support and $103.12 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.15 as support and $102.17 as resistance ( broken on August 28 ). See 2nd chart below.

Starting to trade below $101.18 will mean to me extreme technical weakness...
Starting to trade AND stay above $103.12 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.12 will give us another bullish impulse scenario and direct go towards $103.41 max $103.80 for now in the next few sessions.

Need to stay above on a daily close $101.18 to iAm in a Bullish Mode...

A daily close below $103.12 but above $101.18 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $101.18 will mean for me that we are back into a correction phase and another gap down towards $100.19 max $99.32.

Apple shares outperformed the SP500 on August 28 (see 3rd chart chart below).

Expect a day trading range between $102.00 - $103.10 with average volatility.

Support : $102.17 and $101.56 Resistance : $102.78 and $103.12
August 28 Puzzled ?

Yesterday rumour of the iWatch launch caught the market by surprise,
including me. I am a little puzzled because we did have a close a tiny
higher then my resistance level ( $102.06 vs daily close at $102.13 ).

The fact that the SP500 trigger a correction phase put me in a situation
where we should be cautious. Now, three main factors are driving
the price of Apple Shares: Rumours, bullish Counter Trend Behavior
and bearish Correlation Risks. That tells me that volatility will increase.

I will stick another day with the tiny correction mode and need a daily close
below $102.17 for that to unfold for today.

We are within a new uptrend channel with $100.92 as support and $102.90 as resistance.

We need a daily close below the 102.17 level for that trend to continue.
Unless, we will be back in a bullish mode IF that level is broken.

I expect volatility to be average today but picking up getting near Labor Day.

Relative Volatility rose ( with stroner prices - a good mix - see 4rth chart below ) and Counter Trend is bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are back into the critical phase ( from 0.82 to 0.65 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are within a new uptrend channel that started on August 19 with $100.92 as support and $102.90 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.15 as support and $102.17 as resistance. See 2nd chart below.

Starting to trade below $100.92 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.17 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.17 will give us another bullish impulse scenario and direct go towards $102.57 max $102.90 for now in the next few sessions.

Need to stay above on a daily close $102.17 to iAm in a Tiny Correction Mode...

A daily close below $102.17 but above $100.92 will mean for me that we are into a Correction pattern trade scenario for a few sessions

A daily close below $100.92 will mean for me that we are back into a correction phase and another gap down towards $100.19 max $99.54.

Apple shares outperformed the SP500 on August 27 (see 3rd chart chart below).

Expect a day trading range between $100.90 - $102.20 with average volatility.

Support : $101.50 and $101.28 Resistance : $102.17 and $102.57

August 27 The Broken Uptrend Channel ?

Yestreday I wrote: Already the Red Candle at the top yesterday do not look
good on a daily basis.

And yesterday, we broke an uptrend channel that started on August 11
with 101.45 as support ( Daily close was $100.89 ), triggering the tiny
correction phase towards $99.95 max $99.32 for now.

We need a daily close below the 102.06 level for that trend to continue.
Unless, we will be back in a bullish mode IF that level is broken.

I expect volatility to be average today but picking up getting near Labor Day.

Relative Volatility fell ( with weaker prices - a very bad mix ) and Counter Trend is neutral for Apple Shares since SP500 Futures is in a bullish mode and finally, Correlation are back into the critical phase
( from 0.96 to 0.82 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are not anymore into an uptrend channel that started on August 11 with $102.06 as support and $104.29 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.15 as support and $102.17 as resistance. See 4rth chart below.

Starting to trade below $99.95 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.06 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.06 will give us another bullish impulse scenario and direct go towards $102.66 max $102.96 for now in the next few sessions.

Need to stay above on a daily close $102.06 to iAm in a Tiny Correction Mode...

A daily close below $102.06 but above $99.95 will mean for me that we are into a Correction pattern trade scenario for a few sessions

A daily close below $99.95 will mean for me that we are back into a correction phase and another gap down towards $99.54 max $99.32.

Apple shares underperformed the SP500 on August 26 (2nd chart below).

Expect a day trading range between $100.60 - $101.50 with average volatility.

Support : $100.86 and $100.58 Resistance : $101.50 and $102.17

August 26 The Uptrend Channel in Jeopardy ?

We are still evolving within an uptrend channel that started on August 11
with 101.45 as support and 103.70 as resistance for today.

That will dictate the price action for Apple Shares.
Already the Red Candle at the top yesterday do not look good on a daily basis.

We need a daily close above the 101.45 level for that trend to continue.
Unless, we will be in a corrective mode IF that level is broken.

I expect volatility to be average today but picking up getting near Labor Day.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter Trend is neutral for Apple Shares since SP500 Futures is in a bullish mode and finally, Correlation are back into the critical phase
( from 0.96 to 0.96 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are into an uptrend channel that started on August 11 with $101.45 as support and $103.70 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of June 23 with $95.15 as support and $102.17 as resistance.See 4rth chart below.

Starting to trade below $101.45 will mean to me extreme technical weakness...
Starting to trade AND stay above $102.96 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $102.96 will give us another bullish impulse scenario and direct go towards $103.20 max $103.75 for now in the next few sessions.

Need to stay above on a daily close $101.45 to iAm in Bullish Mode...

A daily close below $102.96 but above $101.45 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $101.45 will mean for me that we are back into a correction phase and another gap down towards $100.58 max $99.54.

Apple shares underperformed the SP500 on August 25 (2nd chart below).

Expect a day trading range between $100.60 - $102.00 with average volatility.

Support : $101.28 and $100.58 Resistance : $102.17 and $102.66

August 25 The Uptrend Channel ?

We are still evolving within an uptrend channel that started on August 11
with 100.94 as support and 103.17 as resistance for today.

That will dictate the price action for Apple Shares.

We need a daily close above the 100.94 level for that trend to continue.
Unless, we will be in a corrective mode IF that level is broken.

I expect volatility to be average today.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter Trend is neutral for Apple Shares since SP500 Futures is in a bullish mode and finally, Correlation are back into the critical phase
( from 0.98 to 0.96 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are into an uptrend channel that started on August 11 with $100.94 as support and $103.17 as resistance.

We have on a weekly basis, a broken uptrend channel that started on the week of July 14 with $93.97 as support and $99.07 as resistance. See 4rth chart below.

Starting to trade below $100.94 will mean to me extreme technical weakness...
Starting to trade AND stay above $103.17 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $103.17 will give us another bullish impulse scenario and direct go towards $103.25 max $103.80 for now in the next few sessions.

Need to stay above on a daily close $100.94 to iAm in Bullish Mode...

A daily close below $103.17 but above $100.94 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $100.94 will mean for me that we are back into a correction phase and another gap down towards $100.19 max $99.54.

Apple shares outperformed the SP500 on August 22 (2nd chart below).

Expect a day trading range between $101.10 - $102.60 with average volatility.

Support : $100.94 and $100.19 Resistance : $102.57 and $103.17

August 14 Target Almost Reached ?

Take note that I will take some vacation from August 15 and I will be
back on August 25. This is my last Daily : Back August 25.

Yesterday s technicals were quite strong; we stayed above the 20 DMA
(Day Moving Average) and did close above and at the resistance level
of my uptrend channel. I start to be more cautious at those levels.

My target is almost reached as I wrote in the past few days:
I still have in mind a retest of the $97.45 zone again IF we stay on a daily
close above the 20 DMA .

I expect volatility to be average today.

Relative Volatility rose ( with strongerer prices - a very good mix ) and Counter Trend is neutral for Apple Shares since SP500 Futures is in a dead cat bounce mode and finally, Correlation are back into the critical phase anymore ( from 0.78 to 0.87 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are into an uptrend channel that started on August 7 with $94.51 as support and $97.52 as resistance.

Also, we have an overlap uptrend channel that started on August 11 with $96.64 as support and $98.07 as resistance.

We have on a weekly basis, an uptrend channel that started on the week of July 14 with $93.55 as support and $98.60 as resistance. Next weel levels are $93.73 and $98.86 respectively. See 4rth chart below.

Starting to trade below $95.97 will mean to me extreme technical weakness...
Starting to trade AND stay above $98.07 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $98.07 will give us another bullish impulse scenario and direct go towards $98.70 max $99.44 for now in the next few sessions.

Need to stay above on a daily close $95.97 to iAm in Bullish Mode...

A daily close below $98.07 but above $95.97 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.97 will mean for me that we are back into a correction phase and another gap down towards $94.84 max $94.51.

Apple shares outperformed the SP500 on August 13 (2nd chart below).

Expect a day trading range between $96.60 - $97.80 with average volatility.

Support : $96.58 and $95.97 Resistance : $97.52 and $97.88

August 13 The Battle of the 20 DMA ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Two interesting things from yesterday technical:
1) We did test the 20 DMA (Day Moving Average) and did close above.
2) We had a long legged Doji: The long-legged doji suggests that the forces of
supply and demand are nearing equilibrium and that a shift in the direction of
the trend may be coming.

I still need a close today above that 20 DMA ( now at $95.85 ) , unless it will
tell me that we are shifting towards weak technicals

I still have in mind a retest of the $97.45 zone again IF we stay on a daily close above the 20 DMA .

I expect volatility to be average today.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend is neutral for Apple Shares since SP500 Futures is in a dead cat bounce mode and finally, Correlation are back into the critical phase anymore ( from 0.61 to 0.78 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

We are into an uptrend channel that started on August 7 with $94.23 as support and $97.22 as resistance.

Also, we have the 50 DMA ( Day Moving Average ) at $94.13 that is crucial to hold, unless another major gap down is expected to $92.57 MAX $92.00.

Starting to trade below $94.13 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.22 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.22 will give us another bullish impulse scenario and direct go towards $97.45 max $97.88 for now in the next few sessions.

Need to stay above on a daily close $94.23 to iAm in Bullish Mode...

A daily close below $97.22 but above $94.23 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $94.23 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $92.00.

Apple shares outperformed the SP500 on August 12 (2nd chart below).

Expect a day trading range between $95.80 - $96.90 with above average volatility.

Support : $95.85 and $95.61 Resistance : $96.58 and $96.88

August 12 The Broken 20 DMA ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Yesterday I wrote: The tide is turning for Apple Shares after being in a
correction mode since July 29.

Almost a textbook technical lesson in the past few sessions from Apple Shares.
Last Friday, we tested the 50 DMA (Day Moving Average) then at $93.81 and
was rejected violently. Then yesterday we did finally have a close above the
20 DMA. That was technical strenght for me.

I still have in mind a retest of the $97.45 zone again IF we stay on a daily
close above the 20 DMA now at $95.82.

I expect volatility to be average today.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter Trend is neutral for Apple Shares since SP500 Futures is in a dead cat bounce mode and finally, Correlation are not into the critical phase anymore ( from 0.53 to 0.61 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are not anymore into a downtrend channel that started on August 5 with $93.36 as support and $94.69 as resistance.

Also, we have the 50 DMA ( Day Moving Average ) at $94.01 that is crucial to hold, unless another major gap down is expected to $92.57 MAX $92.00.

Starting to trade below $94.01 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.58 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.58 will give us another bullish impulse scenario and direct go towards $96.89 max $97.45 for now in the next few sessions.

Need to stay above on a daily close $94.01 to iAm in Bullish Mode...

A daily close below $96.58 but above $94.01 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $94.01 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $92.00.

Apple shares outperformed the SP500 on August 11 (2nd chart below).

Expect a day trading range between $95.80 - $96.90 with above average volatility.

Support : $95.82 and $95.17 Resistance : $96.58 and $96.89

August 11 The 50 DMA Test ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Last Friday, we tested the 50 DMA (Day Moving Average) then at $93.81 and
was rejected violently. That was technical strenght for me. The tide is turning
for Apple Shares after being in a correction mode since July 29.

We are near challenging the resistance of the downtrend channel at $94.88
and it will give that other bullish impulse that we need to test back the
$97.45 zone again.

I expect volatility to be above average today.

Relative Volatility rose ( with strongerker prices - a very good mix ) and Counter Trend is neutral for Apple Shares since SP500 Futures is in a dead cat bounce mode and finally, Correlation are not into the critical phase anymore ( from 0.94 to 0.53 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are still within of a downtrend channel that started on August 5 with $93.56 as support and $94.88 as resistance.

Also, we have the 50 DMA ( Day Moving Average ) at $93.89 that is crucial to hold, unless another major gap down is expected to $92.57 MAX $92.00.

Starting to trade below $93.56 will mean to me extreme technical weakness...
Starting to trade AND stay above $94.88 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.88 will give us another bullish impulse scenario and direct go towards $95.95 max $96.58 for now in the next few sessions.

Need to stay above on a daily close $93.56 to iAm in Bullish Mode...

A daily close below $94.88 but above $93.56 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $93.56 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $92.00.

Apple shares underperformed the SP500 on August 8 (2nd chart below).

Expect a day trading range between $94.70 - $95.80 with above average volatility.

Support : $94.71 and $94.10 Resistance : $95.17 and $95.84

August 8 The 20 DMA Rejection ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Yesterday , we did finally reached the 20 DMA (Day Moving Average) then at
$95.89 and was rejected violently. That was technical weakness for me.
The SP500 is in a correction mode and also in a downtrend channel, and
the same for Apple Shares; IF we close below the 50 DMA ( now at $93.82 ) ,
then from a consolidation mode I will switch to a bear stance.

We are into a new downtrend channel but ONLY a daily close today above
$95.08 will break it and gives that other bullish impulse that we need to test
back the $97.45 zone again.

I expect volatility to be above average today.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend is bearish for Apple Shares since SP500 Futures is in a correctiom mode and finally, Correlation are into the critical phase ( from 0.95 to 0.94 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are still taking accont of a downtrend channel that started on July 29 with $91.01 as support and $93.69 as resistance. Also, we have a brand new downtrend channel with $ $93.72 as support and $95.08 as resistance.

Also, we have the 50 DMA ( Day Moving Average ) at $93.82 that is crucial to hold, unless another major gap down is expected to $92.57 MAX $92.00.

Starting to trade below $93.82 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.08 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.08 will give us another bullish impulse scenario and direct go towards $95.95 max $96.58 for now in the next few sessions.

Need to stay below on a daily close $95.08 to iAm in Consolidation Mode...

A daily close below $95.08 but above $93.82 will mean for me that we are into a Consolidationpattern trade scenario for a few sessions

A daily close below $93.82 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $92.00.

Apple shares underperformed the SP500 on August 7 (2nd chart below).

Expect a day trading range between $93.50 - $94.70 with above average volatility.

Support : $93.72 and $93.02 Resistance : $94.10 and $94.71

August 7 A New Channel ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

One of my client yesterday asked me ( very good question indeed ) about the
impact of the ex dividend date ( August 7 in our case ) on the technicals.
The answer is that this fact is well know and already embedded in the price
action - so no adjustment for me.

Yesterday , again, we did not even reached the the 20 DMA (Day Moving
Average) then at $95.89 and faded. That was technical weakness for me.
The SP500 is in a consolidation mode and also in a downtrend channel, and
the same for Apple Shares; IF we close below the 50 DMA ( now at $93.71 ) , then from a consolidation mode I will switch to a bear stance.

We are into a new downtrend channel ( and that change a little my technical levels ) but a daily close today above $95.30 will break it and gives that other bullish impulse that we need to test back the $97.45 zone again.

I expect volatility to be above average today.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend is bearish for Apple Shares since SP500 Futures is in a correctiom mode and finally, Correlation are into the critical phase ( from 0.96 to 0.95 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are into a downtrend channel that started on July 29 with $91.74 as support and $94.45 as resistance.
Also, we have a brand new downtrend channel with $ $93.97 as support and $95.30 as resistance.

Also, we have the 50 DMA ( Day Moving Average ) at $93.71 that is crucial to hold, unless another major gap down is expected to $92.57 MAX $92.00.

Starting to trade below $93.71 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.30 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.30 will give us another bullish impulse scenario and direct go towards $95.91 max $96.58 for now in the next few sessions.

Need to stay below on a daily close $95.30 to iAm in Consolidation Mode...

A daily close below $95.30 but above $93.71 will mean for me that we are into a Consolidationpattern trade scenario for a few sessions

A daily close below $93.71 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $92.00.

Apple shares underperformed the SP500 on August 6 (2nd chart below).

Expect a day trading range between $94.00 - $95.50 with above average volatility.

Support : $94.36 and $93.97 Resistance : $95.30 and $95.89

August 6 The Downtrend Channel ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Yesterday we did not even reached the the 20 DMA (Day Moving Average)
then at $95.92 and tumbled on the Geo-Political headline. That was technical
weakness for me. And because the SP500 broke a daily support, then
for Apple Shares, I am going to turn back in consolidation mode from a bullish
stance. IF we close below the 50 DMA ( now at $93.60 ) , then from a
consolidation mode I will switch to a bear stance.

We are still into a downtrend channel but a daily close today above $95.17
will break it and gives that other bullish impulse that we need to test back the $97.45 zone again.

I expect volatility to be above average today.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend is bearish for Apple Shares since SP500 Futures is in a correctiom mode and finally, Correlation are into the critical phase ( from 0.91 to 0.96 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

We are into a downtrend channel that started on July 29 with $92.42 as support and $95.17 as resistance.

Also, we have the 50 DMA ( Day Moving Average ) at $93.60 that is crucial to hold, unless another major gap down is expected to $92.57 MAX $92.00.

Starting to trade below $94.10 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.17 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.17 will give us another bullish impulse scenario and direct go towards $95.91 max $96.58 for now in the next few sessions.

Need to stay below on a daily close $95.17 to iAm in Consolidation Mode...

A daily close below $95.17 but above $93.60 will mean for me that we are into a Consolidationpattern trade scenario for a few sessions

A daily close below $93.60 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $92.00.

Apple shares underperformed the SP500 on August 5 (2nd chart below).

Expect a day trading range between $94.00 - $95.20 with above average volatility.

Support : $94.36 and $93.60 Resistance : $95.17 and $95.91

August 5 Next Battle: the 20 DMA ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

We are still in a bullish mode as we did close yesterday above my level
of $95.17. Counter Trend trades ( selling Apple Shares and Buying SP500 )
were the main factor of the price action yesterday.

The next big battle will be to close above the 20 DMA (Day Moving Average)
now at $95.92; then technicals will turn more bullish as momentum players
join the party.

We are still into a downtrend channel but a daily close today above $95.73
will break it and gives that other bullish impulse that we need to test back the $97.45 zone again.

I expect volatility to be above average today.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter Trend will come back neutral for Apple Shares since SP500 Futures is in a consolidation mode and finally, Correlation are into the critical phase ( from 0.75 to 0.91 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are into a downtrend channel that started on July 29 with $93.10 as support and $95.73 as resistance.
We have also an uptrend channel that started on August 1 with $95.53 as support and $97.35 as resistance.
Also, we have the 50 DMA ( Day Moving Average ) at $93.45 that is crucial to hold, unless another major gap down is expected to $92.00 MAX $89.65.

Starting to trade below $94.81 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.73 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.73 will give us another bullish impulse scenario and direct go towards $96.62 max $97.35 for now in the next few sessions.

Need to stay above on a daily close $95.17 to iAm in Bullish Mode...

A daily close below $95.72 but above $95.17 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.17 will mean for me that we are back into a correction phase and another gap down towards $93.45 max $92.00.

Apple shares underperformed the SP500 on August 4 (2nd chart below).

Expect a day trading range between $95.20 - $96.60 with above average volatility.

Support : $95.17 and $94.81 Resistance : $95.92 and $96.62

August 4 Downtrend Channel in Jeopardy ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Last Friday I wrote: Need to stay below on a daily close $94.56 to iAm in
Bearish Mode...

We did have a close at $96.13, above my level ( then turning bullish ).
Also we did have a close last Friday above the 20 DMA (Day Moving Average)
now at $95.94, another good technical set up.

At this point in time, it is hard to see if it is a dead cat bounce phase as the
SP500 or we resuming uptrend for Apple Shares.

We are still into a downtrend channel but a daily close today above $96.48 will break it and gives that other bullish impulse that we need to test back the $97.45 zone again.

I expect volatility to be above average today.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter Trend will come back neutral for Apple Shares since SP500 Futures is in a correction mode and near bear target and finally, Correlation are into the critical phase ( from 0.58 to 0.75 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are into a downtrend channel with $93.83 as support and $96.48 as resistance.
Also, we have the 50 DMA ( Day Moving Average ) at $93.27 that is crucial to hold, unless another major gap down is expected to $92.00 MAX $89.65.

Starting to trade below $93.27 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.62 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.48 will give us another bullish impulse scenario and direct go towards $97.45 max $97.88 for now in the next few sessions.

Need to stay above on a daily close $95.17 to iAm in Bullish Mode...

A daily close below $96.48 but above $93.27 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $93.27 will mean for me that we are back into a correction phase and another gap down towards $92.00 max $89.65.

Apple shares outperformed the SP500 on August 1 (2nd chart below).

Expect a day trading range between $95.90 - $97.00 with above average volatility.

Support : $95.94 and $95.33 Resistance : $96.85 and $97.45
August 1 My New Downtrend Channel ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Yesterday I wrote: As long as we stay into the uptrend channel, we are ok;
breaking it will bring also a correction to Apple Shares. The level to watch for
today is $97.75.

We did break that level yesterday, then going from a bull mode to a bear mode.

A correction phase into the SP500 is adding tremendous pressure to the
already all bullish players for Apple Shares.

I expect volatility to be above average today.

Relative Volatility fell ( with weaker prices - a very bad mix ) and Counter Trend will come back neutral for Apple Shares since SP500 Futures is in a correction mode and near bear target and finally, Correlation are not anymore into the critical phase ( from -0.54 to 0.58 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

We are into a brand new downtrend channel with $94.56 as support and $97.23 as resistance.
Also, we have the 50 DMA ( Day Moving Average ) at $93.08 that is crucial to hold, unless another major gap down is expected to $92.00 MAX $89.65.

Starting to trade below $93.08 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.84 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.56 will give us another bullish impulse scenario and direct go towards $95.84 max $96.80 for now in the next few sessions.

Need to stay below on a daily close $94.56 to iAm in Bearish Mode...

A daily close below $94.56 but above $93.08 will mean for me that we are into a Bearish pattern trade scenario for a few sessions

A daily close below $93.08 will mean for me that we are back into a correction phase and another gap down towards $92.00 max $89.65.

Apple shares underperformed the SP500 on July 30 (2nd chart below).

Expect a day trading range between $93.10 - $95.20 with above average volatility.

Support : $93.72 and $93.08 Resistance : $94.56 and $95.17

July 31 Momentum is Lost ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Yesterday I wrote: We have a support trendline ( amber trendline - 1st
chart below ) now at $98.88. That level will tell us if we keep a strong
momentum or not IF we stay above it.

So we lost the momentum and today the last day of the month could add
pressure to Apple Shares after a strong monthly outperformance and
a correction phase into the SP500.

As long as we stay into the uptrend channel, we are ok; breaking it will bring
also a correction to Apple Shares. The level to watch for today is $97.75.

Then, the support trendline from the channel now at $97.75 becomes crucial technically speaking.

I expect volatility to be above average today.

Relative Volatility fell ( with weaker prices - a very badmix ) and Counter Trend will come back neutral for Apple Shares since SP500 Futures is in a correction mode and near bear target and finally, Correlation are not anymore into the critical phase ( from -0.06 to -0.54 ).

Those risks factors are neutral compare to the last few sessions.
Now back to technicals:

We are still evolving into an uptrend channel with $97.75 as support and $100.97 as resistance.
Also, we have a support trendline ( amber trendline - 1st chart below ) now at $99.58. That level will tell us if we gain back a strong momentum or not IF we are able to get back above it.

Starting to trade below $96.42 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.44 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.44 will give us another bullish impulse scenario and direct go towards $100.15 max $100.50 for now in the next few sessions.

Need to stay above on a daily close $97.75 to iAm in Bullish Mode...

A daily close below $99.44 but above $97.75 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $97.75 will mean for me that we are back into a correction phase and another gap down towards $96.42 max $95.73.

Apple shares underperformed the SP500 on July 30 (2nd chart below).

Expect a day trading range between $96.60 - $97.80 with above average volatility.

Support : $96.64 and $96.42 Resistance : $97.32 and $97.75

July 30 Still Uptrend ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

08.49 My site is just back on - sorry for that - charts not updated

I still think that Apple Shares will outperform the SP500 going forward:
We must here mentioned one major market risk for a lot of institutional
accounts who are under-invested in Apple Shares: and that risk is IF the
SP500 start a correction with Apple Shares continue to grind.
That will be a double blow to those accounts...

As long as we stay into the uptrend channel, we are ok; breaking it will bring also a correction to Apple Shares. The level to watch for today is $97.25.

Then, the support trendline from the channel now at $97.25 becomes crucial technically speaking.

I expect volatility to be above average today.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter Trend will come back bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are not anymore into the critical phase ( from 0.73 to 0.33 ).

Those risks factors are bullish compare to the last few sessions.

Now back to technicals:

We are still evolving into an uptrend channel with $97.25 as support and $100.50 as resistance.
Also, we have a support trendline ( amber trendline - 1st chart below ) now at $98.88. That level will tell us if we keep a strong momentum or not IF we stay above it.

Starting to trade below $97.25 will mean to me extreme technical weakness...
Starting to trade AND stay above $99.44 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.44 will give us another bullish impulse scenario and direct go towards $100.15 max $100.50 for now in the next few sessions.

Need to stay above on a daily close $97.25 to iAm in Bullish Mode...

A daily close below $99.44 but above $97.25 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $97.25 will mean for me that we are back into a correction phase and another gap down towards $95.91 max $95.17.

Apple shares outperformed the SP500 on July 29 (2nd chart below).

Expect a day trading range between $97.80 - $99.20 with above average volatility.

Support : $98.25 and $97.80 Resistance : $99.20 and $99.44

July 29 Can we Keep the Momentum ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

Since July 23rd, we hap a strong upward push in the price of Apple Shares.
What will tell me today that we keep the momentum or loose it is the
$98.16 level ( amber trendline - 1st chart below ).

I still think that Apple Shares will outperform the SP500 going forward:
We must here mentioned one major market risk for a lot of institutional
accounts who are under-invested in Apple Shares: and that risk is IF the
SP500 start a correction with Apple Shares continue to grind.
That will be a double blow to those accounts...

As long as we stay into the uptrend channel, we are ok; breaking it will bring also a correction to Apple Shares. The level to watch for today is $96.72.

Then, the support trendline from the channel now at $96.72 becomes crucial technically speaking.

I expect volatility to be above average today.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter Trend will come back bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are not anymore into the critical phase ( from 0.73 to 0.33 ).

Those risks factors are bullish compare to the last few sessions.

Now back to technicals:

We are still evolving into an uptrend channel with $96.72 as support and $99.97 as resistance.
Also, we have a support trendline ( amber trendline - 1st chart below ) now at $98.16. That level will tell us if we keep a strong momentum or not IF we stay above it.

Starting to trade below $96.72 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.88 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $99.24 will give us another bullish impulse scenario and direct go towards $99.97 max $100.30 for now in the next few sessions.

Need to stay above on a daily close $96.72 to iAm in Bullish Mode...

A daily close below $99.24 but above $96.73 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $96.72 will mean for me that we are back into a correction phase and another gap down towards $95.91 max $95.17.

Apple shares outperformed the SP500 on July 28 (2nd chart below).

Expect a day trading range between $97.50 - $99.50 with above average volatility.

Support : $98.58 and $98.16 Resistance : $99.24 and $99.97

July 28 Still into the Uptrend Channel ?

Take note that I will take some vacation from August 15 and I will be
back on August 25.

On the weekly Research, I did explained the two main factors are at play
that will keep volatility high for Apple Shares:
1) Counter Trend is on since July 25
2) Correlation risks are into the danger zone.

I still think that Apple Shares will outperform the SP500 going forward:
We must here mentioned one major market risk for a lot of institutional
accounts who are under-invested in Apple Shares: and that risk is IF the
SP500 start a correction with Apple Shares continue to grind.
That will be a double blow to those accounts...

As long as we stay into the uptrend channel, we are ok; breaking it will bring also a correction to Apple Shares. The level to watch for today is $96.21.

Then, the support trendline from the channel now at $96.21 becomes crucial technically speaking.

I expect volatility to be above average today.

Relative Volatility fell ( with stronger prices - a bad mix ) and Counter Trend will come back bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are back into the critical phase ( from 0.84 to 0.73 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are still evolving into an uptrend channel with $96.21 as support and $99.45 as resistance.

Starting to trade below $96.21 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.88 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.88 will give us another bullish impulse scenario and direct go towards $98.62 max $99.45 for now in the next few sessions.

Need to stay above on a daily close $96.21 to iAm in Bullish Mode...

A daily close below $97.88 but above $96.21 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $96.21 will mean for me that we are back into a correction phase and another gap down towards $94.88 max $93.70.

Apple shares outperformed the SP500 on July 25 (2nd chart below).

Expect a day trading range between $97.00 - $98.10 with average volatility.

Support : $97.10 and $96.63 Resistance : $97.88 and $98.62

July 25 SP500 and AAPL ?

Now that most of the Retail Participants and Institutionals one had the
opportunity to buy pre and post Earnings, what I fear at this point is a tiny
correction into SP500 futures the will bring some pressure ( 1976.5 broken )
to Apple Shareseven if I think they will outperform the index. Also, the
correlation factor add in the next few sessions for a potential correction.

As long as we stay into the uptrend channel, we are ok; breaking it will bring
also a correction to Apple Shares. The level to watch for today is $95.65.

Then, the support trendline from the channel now at $95.65 becomes crucial
technically speaking.

I expect volatility to be above average today.

Relative Volatility fell ( with stronger prices - a bad mix ) and Counter Trend will come back slightly bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are back into the critical phase ( from 0.77 to 0.84 ).

Those risks factors are slightly bearish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1976.5 level today.

Now back to technicals:

We are now evolving into a brand new uptrend channel with $95.65 as support and $98.93 as resistance.

Starting to trade below $95.65 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.88 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.88 will give us another bullish impulse scenario and direct go towards $98.62 max $99.10 for now in the next few sessions.

Need to stay above on a daily close $95.65 to iAm in Bullish Mode...

A daily close below $97.88 but above $95.65 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.65 will mean for me that we are back into a correction phase and another gap down towards $94.54 max $93.70.

Apple shares underperformed the SP500 on July 24 (2nd chart below).

Expect a day trading range between $96.40 - $97.50 with average volatility.

Support : $96.42 and $96.00 Resistance : $97.32 and $97.88

July 24 My New Uptrend Channel ?

Yesterday I was really surprise with the kind of price behavior for Apple
Shares. Like if a big fund fear to miss the iPhone 6 ride. It was strong
and agressive kind of price action. My fear of a pullback on the 20 DMA
was wrong.

On the other side, Relative Volatility collapse as expected : a drop of only
17.7% compare to historical data of 27.2%.

We are now evolving into a brand new uptrend channel with $95.17 as
support and $98.42 as resistance.

Then, the support trendline from the channel now at $95.17 becomes crucial
technically speaking.

I expect volatility to be above average today.

Relative Volatility fell ( with stronger prices - a good mix ) and Counter Trend will come back slightly bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are back into the critical phase ( from 0.58 to 0.77 ).

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1976.5 level today.

Now back to technicals:

We are now evolving into a brand new uptrend channel with $95.17 as support and $98.42 as resistance.

Starting to trade below $95.17 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.88 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.88 will give us another bullish impulse scenario and direct go towards $98.42 max $99.10 for now in the next few sessions.

Need to stay above on a daily close $95.17 to iAm in Bullish Mode...

A daily close below $97.88 but above $95.17 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.17 will mean for me that we are back into a correction phase and another gap down towards $94.20 max $93.70.

Apple shares outperformed the SP500 on July 23 (2nd chart below).

Expect a day trading range between $96.00 - $98.40 with average volatility.

Support : $96.80 and $96.00 Resistance : $97.88 and $98.42

July 23 The 20 DMA at Play ?

Earnings Release on July 22 were ok but did not meet the usual high
expectations from Market Participants.: Apple Reports Third Quarter Results

What I fear today is that many participants ( especially options players )
will decide to get out of Apple Shares on a short term basis.

Then, the 20 DMA ( Day Moving Average ) now at $93.86 becomes crucial
technically speaking. IF we break it, I think we may test the bottom of the
channel now at $91.75 MAX the 50 DMA now at $91.35.

I expect volatility to be above average today.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter Trend will come back slightly bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are not anymore into the critical phase ( from 0.54 to 0.58 ).

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1968.5 level today.

Now back to technicals:

We are still within a downtrend channel that started on July 8 with $91.75 as support and $94.63 as resistance..

We have also a support trendline at $93.39.

Starting to trade below $93.86 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.65 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.63 will give us another bullish impulse scenario and direct go towards $95.99 max $97.10 for now in the next few sessions.

Need to stay below on a daily close $94.64 to iAm in Consolidation Mode...

A daily close below $94.64 but above $93.86 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $93.86 will mean for me that we are back into a correction phase and another gap down towards $91.75 max $91.35.

Apple shares outperformed the SP500 on July 22 (2nd chart below).

Expect a day trading range between $93.00 - $95.00 with average volatility.

Support : $93.86 and $93.39 Resistance : $94.63 and $94.89

July 22 D-Day for ER ?

Earnings Release on July 22 ( D-Day for ER ).

Yesterday I wrote:
What we learned form the Weekly research ( sent yesterday ) is that the
day prior to ER is the peak in price before ER; so today July 21 IF history
repeat itsel should be the peak price for Apple Shares.

Again, Market Pre-Opening is already well bid but expected to fade again today.

I expect volatility to be above average today.

One thing to remember: Relative Volatility on options on Apple Shares will
collapse after the close today; trade accordingly.

We should not be too picky on technical levels prior of ER and conclude or read too much about them.

Relative Volatility fell ( with weaker prices - a bad mix - and level of RV is still expensive ) and Counter Trend will come back slightly bullish for Apple Shares since SP500 Futures is in a correction mode and finally, Correlation are not anymore into the critical phase ( from 0.53 to 0.54 ).

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1961.5 level today.

Now back to technicals:

We are still within a downtrend channel that started on July 8 with $91.95 as support and $94.82 as resistance..

We have also a support trendline at $94.32.

Starting to trade below $93.66 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.65 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.82 will give us another bullish impulse scenario and direct go towards $95.99 max $97.10 for now in the next few sessions.

Need to stay below on a daily close $94.82 to iAm in Consolidation Mode...

A daily close below $94.82 but above $93.66 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $93.66 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $91.95.

Apple shares underperformed the SP500 on July 21 (2nd chart below).

Expect a day trading range between $94.30 - $95.60 with average volatility.

Support : $94.32 and $93.72 Resistance : $94.82 and $95.65

July 21 ER -1 ?

Earnings Release on July 22 ( ER -1 and counting ).

What we learned form the Weekly research ( sent yesterday ) is that the
day prior to ER is the peak in price before ER; so today July 21 IF history
repeat itsel should be the peak price for Apple Shares.

Market Pre-Opening is already above the average gain expected for today.

I expect volatility to be above average today.

We should not be too picky on technical levels prior of ER and conclude or read too much about them.

Relative Volatility rose ( with strongerer prices - a good mix - and level of RV is still expensive ) and Counter Trend will come back slightly bullish for Apple Shares since SP500 Futures is in a
correction mode and finally, Correlation are not anymore into the critical phase ( from 0.66 to 0.53 ).

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1959.5 level today.

Now back to technicals:

We are back within a downtrend channel that started on July 8 with $92.14 as support and $95.01 as resistance..

We have also a support trendline at $94.32.

Starting to trade below $93.51 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.65 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.01 will give us another bullish impulse scenario and direct go towards $95.99 max $97.10 for now in the next few sessions.

Need to stay below on a daily close $95.01 to iAm in Consolidation Mode...

A daily close below $95.01 but above $93.51 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $93.51 will mean for me that we are back into a correction phase and another gap down towards $92.57 max $92.14.

Apple shares outperformed the SP500 on July 18 (2nd chart below).

Expect a day trading range between $94.30 - $95.70 with average volatility.

Support : $94.32 and $93.72 Resistance : $95.01 and $95.65

July 18 Dead Cat Bounce ?

July 17 was the expected turning point for Apple Shares.

From July 16 in a total Euphoria phase til yesterday s close was a more
violent move than usual. That was in part from the Pre Earnings Release ( ER )
and the news for the IBM-Apple partnership.

I do expect a dead cat bounce today to $93.52 MAX $94.25 before
the expected consolidation - range trade phase til Earnings Release on July 22.

I expect volatility to be above average today.

Relative Volatility fell strongly ( with weaker prices - a very bad mix - and level of RV is still expensive ) and Counter Trend will come back slightly bullish for Apple Shares since SP500 Futures is in a
correction mode and finally, Correlation are not anymore into the critical phase ( from 0.16 to 0.66 ).

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1947.5 level today.

Now back to technicals:

We are back within a downtrend channel that started on July 8 with $92.32 as support and $95.21 as resistance..

We have also a resistance trendline at $94.25.

Starting to trade below $92.32 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.21 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.21 will give us another bullish impulse scenario and direct go towards $95.99 max $97.10 for now in the next few sessions.

Need to stay below on a daily close $95.21 to iAm in Consolidation Mode...

A daily close below $95.21 but above $92.32 will mean for me that we are into a Consolidation pattern trade scenario for a few sessions

A daily close below $92.32 will mean for me that we are back into a correction phase and another gap down towards $91.35 max $90.74.

Apple shares underperformed the SP500 on July 17 (2nd chart below).

Expect a day trading range between $92.50 - $94.30 with average volatility.

Support : $93.09 and $92.57 Resistance : $93.52 and $94.25

July 16 Euphoria Phase ?

We are getting into the Euphoria Phase for Apple Shares.
Pre Earnings Release ( ER ) and yesterday news was a surprise:
Apple and IBM partner to launch 'made-for-business' apps

That should continue for a few more sessions ( July 17 IF history repeat -
research last Sunday - APPLE Technicals Behavior - A Choppy Road til ER
http://www.financialiceberg.com/abetaaapl.html ) followed by a corrective
stance til ER.

I expect volatility to be above average today.

Relative Volatility fell ( with stronger prices - a good mix - but level of RV is
extremely expensive ) and Counter Trend came back neutral for Apple Shares since SP500 Futures is in a
bullish mode and finally, Correlation are back into the critical phase ( from -0.16 to 0.78 ).

Those risks factors are bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1964 level today.

Now back to technicals:

We are within a new and steep uptrend channel that started on July 10 with $95.70 as support and $98.24 as resistance

We are not anymore within a downtrend channel that started on July 8 with $92.73 as support and $95.61 as resistance..

We broke on July 7 the $94.12 resistance and I wrote earlier: The next move will be based on which side of that channel we have a break out or down. Now it becomes a new support trendline at $94.22 in a consolidation pattern.

Starting to trade below $95.03 will mean to me extreme technical weakness...
Starting to trade AND stay above $97.69 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $97.69 will give us another bullish impulse scenario and direct go towards $98.24 max $98.58 for now in the next few sessions.

Need to stay above on a daily close $95.70 to iAm in Bullish Mode...

A daily close below $97.69 but above $95.70 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.70 will mean for me that we are back into a correction phase and another gap down towards $94.22 max $93.09.

Apple shares underperformed the SP500 on July 15 (2nd chart below).

Expect a day trading range between $96.10 - $97.70 with average volatility.

Support : $96.80 and $96.00 Resistance : $97.69 and $98.24

July 15 Full Throttle ?

Yesterday, it was full throttle for Apple Shares. All the technicals, seasonality
Correlation and Pre- Earnings Release ( ER ) Fever was in the air.

That should continue for a few more sessions ( July 17 IF history repeat -
research last Sunday - APPLE Technicals Behavior - A Choppy Road til ER
http://www.financialiceberg.com/abetaaapl.html ) followed by a corrective
stance til ER.

I expect volatility to be average today.

Relative Volatility rose ( with stronger prices - a good mix - but level of RV is
extremely expensive ) and Counter Trend came back neutral for Apple Shares since SP500 Futures is in a
bullish mode and finally, Correlation are not anymore into the critical phase ( from -0.38 to -0.16 ).
Negative Correlation should bring Apple Shares in a phase of outperforming the SP500 as history suggest.
Also, as we know now, Seasonalities are bullish in an Q3 Earnings Realeases til July 17.

Those risks factors are bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1961.5 level today.

Now back to technicals:

We are within a new and steep uptrend channel that started on July 10 with $95.55 as support and $97.56 as resistance

We are not anymore within a downtrend channel that started on July 8 with $92.93 as support and $95.81 as resistance..

Also, a support trendline is for today at $94.37 - see amber line - 1st chart below .

We broke on July 7 the $94.12 resistance and I wrote earlier: The next move will be based on which side of that channel we have a break out or down. Now it becomes a new support trendline at $94.21 in a consolidation pattern.

Starting to trade below $94.76 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.89 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.89 will give us another bullish impulse scenario and direct go towards $97.56 max $98.18 for now in the next few sessions.

Need to stay above on a daily close $95.55 to iAm in Bullish Mode...

A daily close below $96.89 but above $95.55 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.55 will mean for me that we are back into a correction phase and another gap down towards $94.21 max $93.09.

Apple shares outperformed the SP500 on July 14 (2nd chart below).

Expect a day trading range between $95.80 - $97.50 with average volatility.

Support : $95.81 and $95.55 Resistance : $96.89 and $97.56

July 14 Finally a Bullish Signal ?

Last Friday I wrote:
We have now a new resistance trendline with $95.15 as the level for today.
Also, we are within a new downtrend channel. Only a daily close today
above the $95.15 level will turn me bullish, unless still into consolidation.

We did close above that level ( $95.22 ), then turning bullish.

I expect volatility to be average today.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend came back neutral for Apple Shares since SP500 Futures is in a
bullish mode and finally, Correlation are not anymore into the critical phase ( from -0.31 to -0.38 ).
Negative Correlation should bring Apple Shares in a phase of outperforming the SP500 as history suggest.
Also, as we know now, Seasonalities are bullish in an Q3 E arnings Realeases til July 17.

Those risks factors are bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1961.5 level today

Now back to technicals:

We are now within a new downtrend channel that started on July 8 with $93.12 as support and $96.03 as resistance..

Also, a support trendline is for today at $94.76 - see amber line - 1st chart below .

We broke on July 7 the $94.12 resistance and I wrote earlier: The next move will be based on which side of that channel we have a break out or down. Now it becomes a new support trendline at $94.23 in a consolidation pattern.

Starting to trade below $94.76 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.03 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.03 will give us another bullish impulse scenario and direct go towards $96.80 max $97.60 for now in the next few sessions.

Need to stay above on a daily close $95.05 to iAm in Bullish Mode...

A daily close below $96.03 but above $95.05 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.05 will mean for me that we are back into a correction phase and another gap down towards $94.23 max $93.09.

Apple shares outperformed the SP500 on July 11 (2nd chart below).

Expect a day trading range between $95.50 - $96.50 with average volatility.

Support : $95.55 and $95.05 Resistance : $96.03 and $96.80

July 11 Near a Bullish Signal ?

What have changed since July 7 is that the SP500 index went from a bullish
stance to a correction mode. I think Apple Shares will follow that pattern
but will ouperform the Index.

We have now a new resistance trendline with $95.15 as the level for today.
Also, we are within a new downtrend channel. Only a daily close today
above the $95.15 level will keep me bullish, unless back into consolidation.

I expect volatility to be average today.

Relative Volatility fell ( with strongerer prices - a bad mix ) and Counter
Trend came back bullish for Apple Shares since SP500 Futures is in a
corrective mode and finally, Correlation are not anymore into the critical phase ( from 0.18 to -0.31 ).

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1952 level today.

Now back to technicals:

We are now within a new downtrend channel that started on July 8 with $93.32 as support and $96.20 as resistance..

Also, a new trendline resistance is for today at $95.15 - see amber line - 1st chart below .

We broke on July 7 the $94.12 resistance and I wrote earlier: The next move will be based on which side of that channel we have a break out or down. Now it becomes a new support trendline at $94.21 in a consolidation pattern.

Starting to trade below $94.21 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.20 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.20 will give us another bullish impulse scenario and direct go towards $96.80 max $97.60 for now in the next few sessions.

Need to break above on a daily close $95.15 to iAm in Bullish Mode from a consolidation phase...

A daily close below $96.20 but above $95.15 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.15 will mean for me that we are back into a correction phase and another gap down towards $94.21 max $93.09.

Apple shares outperformed the SP500 on July 10 (2nd chart below).

Expect a day trading range between $94.20 - $96.20 with average volatility.

Support : $94.76 and $94.21 Resistance : $95.55 and $96.20

July 10 Consolidation Phase ?

What have changed since July 7 is that the SP500 index went from a bullish
stance to a correction mode. I think Apple Shares will follow that pattern
but will ouperform the Index.

We are now into an adjusted uptrend channel. Only a daily close today
above the $95.70 level will keep me bullish, unless back into consolidation,
which in fact I think we are already into.

I expect volatility to be average today.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter
Trend came back bullish for Apple Shares since SP500 Futures is in a
corrective mode and finally, Correlation are not anymore into the critical phase ( from 0.41 to 0.18 ).

Interesting to observe that we reached the previous top in terms of Relative Volatility of July and September 2013 were RV and Apple Shares started a correction... See third chart below.

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1951 level today.

Now back to technicals:

We are back into an adjusted uptrend channel that started on June 30 with $95.70 as support and $98.00 as resistance..

We broke on July 7 the $94.12 resistance and I wrote earlier: The next move will be based on which side of that channel we have a break out or down. Now it becomes a new support trendline at $94.19.

Starting to trade below $94.19 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.80 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.80 will give us another bullish impulse scenario and direct go towards $97.43 max $97.70 for now in the next few sessions.

Need to stay above on a daily close $95.70 to iAm in Bullish Mode ...

A daily close below $96.80 but above $95.70 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.70 will mean for me that we are back into a correction phase and another gap down towards $94.19 max $93.09.

Apple shares underperformed the SP500 on July 9 (2nd chart below).

Expect a day trading range between $93.50 - $95.70 with average volatility.

Support : $94.19 and $93.92 Resistance : $95.36 and $95.70

July 9 Still Bullish ?

The surprise yesterday was the break down of the SP500 futures at the
1964.5 level. With low liquidity, the market had some crazy behavior
like into Apple Shares. It ain t over yet.

We are now into an adjusted uptrend channel. Only a daily close today
above the $95.00 level will keep me bullish.

I expect volatility to be average today.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter
Trend came back bullish for Apple Shares since SP500 Futures is in a
corrective mode and finally, Correlation are now back into the critical phase ( from 0.78 to 0.41 ).

Interesting to observe that we reached the previous top in terms of Relative Volatility of July and September 2013 were RV and Apple Shares started a correction... See third chart below.

Those risks factors are slightly bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1952 level today.

Now back to technicals:

We are back into an adjusted uptrend channel that started on June 30 with $95.00 as support and $97.43 as resistance..

We broke on July 7 the $94.12 resistance and I wrote earlier: The next move will be based on which side of that channel we have a break out or down. Now it becomes a new support trendline at $94.16.

Starting to trade below $95.00 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.80 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.80 will give us another bullish impulse scenario and direct go towards $97.43 max $97.70 for now in the next few sessions.

Need to stay above on a daily close $95.00 to iAm in Bullish Mode ...

A daily close below $96.80 but above $95.00 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.00 will mean for me that we are back into a correction phase and another gap down towards $94.16 max $93.09.

Apple shares outperformed the SP500 on July 8 (2nd chart below).

Expect a day trading range between $94.70 - $96.10 with average volatility.

Support : $95.00 and $94.76 Resistance : $95.70 and $95.99

July 8 Break Out ?

I was wrong in my technical set up. We went direct on a break out mode
instead of a pullback to the 20 DMA and rebound from there in which
scenario technicals will be for a longer bullish pattern.

Breaking the $94.12 resistance level yesterday exceeded my bullish
impulse level by reaching $95.99.

I did underestimate the Counter Trend strenght at this point in time.

I expect volatility to be average today.

Relative Volatility fell ( with stronger prices - a good mix ) and Counter
Trend came back bullish for Apple Shares since SP500 Futures is in a corrective
mode and finally, Correlation are now back into the critical phase ( from 0.83 to 0.78 ).

Interesting to observe that we reached the previous top in terms of Relative Volatility of July and September 2013 were RV and Apple Shares started a correction... See third chart below.

Those risks factors are bullish compare to the last few sessions.

I expect that Counter Trend to give another impulse if SP500 futures break the 1964.5 level today.

Now back to technicals:

We are back into a steep uptrend channel that started on June 26.

We broke yesterday the $94.12 resistance and I wrote yesterday: The next move will be based on which side of that channel we have a break out or down.

Starting to trade below $95.05 will mean to me extreme technical weakness...
Starting to trade AND stay above $96.67 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $96.67 will give us another bullish impulse scenario and direct go towards $97.10 max $97.44 for now in the next few sessions.

Need to stay above on a daily close $95.05 to iAm in Bullish Mode ...

A daily close below $96.67 but above $95.05 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $95.05 will mean for me that we are back into a correction phase and another gap down towards $94.76 max $94.10.

Apple shares outperformed the SP500 on July 7 (2nd chart below).

Expect a day trading range between $95.30 - $96.60 with average volatility.

Support : $95.99 and $95.30 Resistance : $96.67 and $97.10

July 7 Follow the Range Still ?

We are still evolving within that consolidation channel $93.18 support
and near challenging the adjusted $94.12 resistance level.

I still have that scenario in mind. Hard to say if it will be in time or in price;
what I mean is that we may have a range trade or a tiny correction in the
next trading sessions.: Testing the 20 DMA now at $92.26 and rebounding
from it will be the best technical scenario at this point in time.

I still expect volatility to be average today.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend came back neutral for Apple Shares since SP500 Futures is in a break
out mode level and finally, Correlation are now back into the critical phase ( from 0.85 to 0.83 ).

Interesting to observe that we reached the previous top in terms of Relative Volatility of July and September 2013 were RV and Apple Shares started a correction... See third chart below.

Those risks factors are neutral compare to the last few sessions.

I expect that Counter Trend to be back ONLY IF SP500 futures break the 1970.5 level.

Now back to technicals:

We are not anymore into a steep uptrend channel that started on June 26.

We are within a brand new consolidation channel that started on July 1 with $93.18 support and $94.12 resistance. The next move will be based on which side of that channel we have a break out or down.

Starting to trade below $92.26 will mean to me extreme technical weakness...
Starting to trade AND stay above $94.12 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.12 will give us another bullish impulse scenario and direct go towards $94.76 max $95.05 for now in the next few sessions.

Need to stay above on a daily close $93.18 to iAm in Bullish Mode ...

A daily close below $94.12 but above $93.18 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $93.18 will mean for me that we are back into a correction phase and another gap down towards $92.26 max $91.45.

Apple shares outperformed the SP500 on July 3 (2nd chart below).

Expect a day trading range between $93.20 - $94.60 with average volatility.

Support : $93.18 and $92.75 Resistance : $94.10 and $94.76

July 3 Follow the Range

So the Long-Legged Doji Candle Pattern we had on July 1st was a sign that
we needed a pause / tiny consolidation before resuming uptrend.

I still have that scenario in mind. Hard to say if it will be in time or in price;
what I mean is that we may have a range trade or a tiny correction in the
next trading sessions.: Testing the 20 DMA now at $92.18.

I still expect volatility to be above average today.

Relative Volatility rose ( with weaker prices - a bad mix ) and Counter Trend
is came back neutral for Apple Shares since SP500 Futures is in a break
out mode level and finally, Correlation are now back into the critical phase ( from 0.74 to 0.85 ).

Interesting to observe that we reached the previous top in terms of Relative Volatility of June 6 were RV and Apple Shares started a correction... See third chart below.

Those risks factors are neutral compare to the last few sessions.

I expect that Counter Trend to be back ONLY IF SP500 futures break the 1959 level.

Now back to technicals:

We are not anymore into a steep uptrend channel that started on June 26.

We are within a brand new consolidation channel that started on July 1 with $93.07 support and $94.05 resistance. The next move will be based on which side of that channel we have a break out or down.

Starting to trade below $92.18 will mean to me extreme technical weakness...
Starting to trade AND stay above $94.05 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.05 will give us another bullish impulse scenario and direct go towards $94.76 max $95.05 for now in the next few sessions.

Need to stay above on a daily close $93.07 to iAm in Bullish Mode ...

A daily close below $94.05 but above $93.07 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $93.07 will mean for me that we are back into a correction phase and another gap down towards $92.18 max $91.45.

Apple shares underperformed the SP500 on July 2 (2nd chart below).

Expect a day trading range between $92.20 - $94.10 with above average volatility.

Support : $93.07 and $92.75 Resistance : $94.05 and $94.76

July 2 My Long-Legged Doji ?

Yestreday I wrote that we were getting near the end of the Euphoria phase.
We had yesterday a Long-Legged Doji Candle Pattern: The long-legged doji
suggests that the forces of supply and demand are nearing equilibrium and
that a shift in the direction of the trend may be coming.

The break of the 20 DMA bring a new speculative crowd known as momentum
players. Now that we re all aboard the train, I fear the risk of a tiny correction
in the next 2 trading sessions.: Testing the 20 DMA now at $92.11.

I still expect volatility to be above average today.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter Trend is came back neutral for Apple Shares since SP500 Futures is in a break out mode level and finally, Correlation are not anymore into the critical phase ( from 0.38 to 0.74 ).

Interesting to observe that we reached the previous top in terms of Relative Volatility of June 6 were RV and Apple Shares started a correction...

Those risks factors are neutral compare to the last few sessions.

I expect that Counter Trend to be back ONLY IF SP500 futures break the 1959 level.

Now back to technicals:

We are not anymore into a downtrend channel that started on June 10.

Also, we are into a new steep uptrend channel that started on June 26 with $93.70 as support and $95.70 as resistance.

Starting to trade below $92.11 will mean to me extreme technical weakness...
Starting to trade AND stay above $94.07 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.07 will give us another bullish impulse scenario and direct go towards $94.76 max $95.05 for now in the next few sessions.

Need to stay above on a daily close $92.11 to iAm in Bullish Mode ...

A daily close below $94.07 but above $92.11 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $92.11 will mean for me that we are back into a correction phase and another gap down towards $91.45 max $90.70.

Apple shares performed as the SP500 on July 1 (2nd chart below).

Expect a day trading range between $92.10 - $94.10 with above average volatility.

Support : $93.04 and $92.75 Resistance : $94.07 and $94.76

July 1 Euphoria Phase Near Over ?

We had quite a turnaround since the bottom of $89.65 reached on Juned 25.
We broke the downtrend channel, came back above the 20 DMA (Day Moving
Average) on June 27 ( now at $91.99 ) and we came back also on the 20 DMA
on the ratio of Apple Shares vs SP500. ( See 2 nd chart below - yellow line ).

We can t ingnore also month end rebalancing and Counter Trend that did help
Apple Shares indeed.

The break of the 20 DMA bring a new speculative crowd known as momentum
players. Now that we re all aboard the train, I fear the risk of a tiny correction
in the next 2 trading sessions.: Testing the 20 DMA at $91.99.

I still expect volatility to be above average today.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter Trend is bullish for Apple Shares since SP500 Futures is in a range trade mode level and finally, Correlation are not anymore into the critical phase ( from 0.44 to 0.38 ).

Those risks factors are bullish compare to the last few sessions. Counter Trend turned bullish Last week.

I still expect that Counter Trend to accelerate IF SP500 futures break the 1943 level and Apple Shares to outperform SP500 in the next few sessions.

Now back to technicals:

We are not anymore into a downtrend channel that started on June 10.

Also, we are into a new uptrend channel that started on June 26 with $92.75 as support and $94.70 as resistance.

Starting to trade below $91.99 will mean to me extreme technical weakness...
Starting to trade AND stay above $93.88 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $93.88 will give us another bullish impulse scenario and direct go towards $94.76 max $95.05 for now in the next few sessions.

Need to stay above on a daily close $91.99 to iAm in Bullish Mode ...

A daily close below $93.88 but above $91.99 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $91.99 will mean for me that we are back into a correction phase and another gap down towards $91.45 max $90.70.

Apple shares outperformed the SP500 on June 30 (2nd chart below).

Expect a day trading range between $92.30 - $93.80 with above average volatility.

Support : $92.75 and $92.30 Resistance : $93.57 and $93.73

June 30 Month End and the 20 DMA ?

Last Friday I wrote:
So I consider having met my bullish requirements. Now, the battle to win
will be to test AND close above the 20 DMA (Day Moving Average) at $91.76.
We did have a close at $91.98, so above the 20 DMA that should bring
some momentum players. A close today above the 20 DMA is a must
to keep those new momentum players into the game.

We broke on June 18 the 20 DMA on the ratio of Apple Shares compare to
the SP500. ( See 2 nd chart below - yellow line ).

I expect volatility to be above average today. Momentum players on one side
and some month end effect ( profit taking ) for some participants should bring
some volatility at the beginning and near the end of the trading session.

Relative Volatility rose ( with stronger prices - a verygood mix ) and Counter Trend is bullish for Apple Shares since SP500 Futures is in a range trade mode level and finally, Correlation are not anymore into the critical phase ( from 0.19 to 0.44 ).

Those risks factors are bullish compare to the last few sessions. Counter Trend turned bullish Last week.

I still expect that Counter Trend to accelerate (especially IF SP500 futures break the 1938 level) and Apple Shares to outperform SP500 in the next few sessions.

Now back to technicals:

We are not anymore into a downtrend channel that started on June 10.

Also, we are into an overlap channel that started on June 16 with $91.00 as support and $92.30 as resistance.

Starting to trade below $90.77 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.75 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.75 will give us another bullish impulse scenario and direct go towards $93.04 max $93.88 for now in the next few sessions.

Need to stay above on a daily close $90.77 to iAm in Bullish Mode ...

A daily close below $92.75 but above $90.77 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $90.77 will mean for me that we are back into a correction phase and another gap down towards $90.10 max $89.96.

Apple shares outperformed the SP500 on June 27 (2nd chart below).

Expect a day trading range between $91.30 - $92.80 with above average volatility.

Support : $91.36 and $90.77 Resistance : $92.30 and $92.75

June 27 Next Battle: the 20 DMA

Yesterday I wrote:
I think we are near reversal on Apple Shares. I need a daily close above
$90.91 to turn bullish, unless still into consolidation mode and the risk of
slippage continue.

So I consider having met my bulish requirements. Now, the battle to win
will be to test AND close above the 20 DMA (Day Moving Average) at $91.76.

We broke on June 18 the 20 DMA on the ratio of Apple Shares compare to
the SP500. ( See 2 nd chart below - yellow line ).

I expect volatility to be average.

Relative Volatility fell ( with stronger prices - a good mix ) and Counter Trend is turning to a bullish behavior for Apple Shares since SP500 Futures broke down the 1947 level and finally, Correlation are not anymore into the critical phase ( from -0.29 to 0.19 ).

Those risks factors are bullish compare to the last few sessions. Counter Trend turned bullish yesterday.

I still expect that Counter Trend to accelerate (especially IF SP500 futures break the 1936 level) and Apple Shares to outperform SP500 in the next few sessions.

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $87.85 as support and $91.35 as resistance.

Also, we are into a new uptrend channel that started on June 25 with $89.96 as support and $91.21 as resistance.

Starting to trade below $89.96 will mean to me extreme technical weakness...
Starting to trade AND stay above $91.76 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $91.76 will give us another bullish impulse scenario and direct go towards $92.45 max $93.04 for now in the next few sessions.

Need to stay above on a daily close $89.96 to iAm in Bullish Mode ...

A daily close below $91.76 but above $89.96 will mean for me that we are into a Bullish pattern trade scenario for a few sessions

A daily close below $89.96 will mean for me that we are back into a correction phase and another gap down towards $88.93 max $87.95.

Apple shares outperformed the SP500 on June 26 (2nd chart below).

Expect a day trading range between $90.20 - $91.50 with average volatility.

Support : $90.37 and $89.96 Resistance : $91.35 and $91.76

June 26 Still into the Channel

We are still evolving within a tiny downtrend channel with $89.28 support
and $90.91 as resistance. I think we are near reversal on Apple Shares.

We are in the same kind of trading range and into the consolidation channel
since June 16. I need a daily close above $90.91 to turn bullish, unless still
into consolidation mode and the risk of slippage continue.

We broke on June 18 the 20 DMA on the ratio of Apple Shares compare to
the SP500 and near testing the 50 DMA on that ratio - a bad omen indeed.
( See 2 nd chart below - yellow line ).

I expect volatility to be average.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter Trend is turning to a bullish behavior for Apple Shares since SP500 Futures broke down the 1947 level and finally, Correlation are not anymore into the critical phase ( from 0.43 to -0.29 ).

Those risks factors are bullish compare to the last few sessions. Counter Trend is near a turnaround.

I think that Counter Trend will start and expect Apple Shares to outperform SP500 in the next few sessions.

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $88.20 as support and $91.50 as resistance.

Also, we are into a new downtrend channel that started on June 20 with $89.28 as support and $90.91 as resistance.

Starting to trade below $89.28 will mean to me extreme technical weakness...
Starting to trade AND stay above $91.50 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $91.50 will give us another bullish impulse scenario and direct go towards $92.45 max $93.04 for now in the next few sessions.

Need to stay below on a daily close $90.90 to iAm in Consolidation Mode ...

A daily close below $90.90 but above $89.28 will mean for me that we are into a consolidation pattern trade scenario for a few sessions

A daily close below $89.28 will mean for me that we are back into a correction phase and another gap down towards $88.93 max $87.95.

Apple shares underperformed the SP500 on June 25 (2nd chart below).

Expect a day trading range between $89.65 - $90.90 with average volatility.

Support : $90.19 and $89.65 Resistance : $90.90 and $91.30

June 25 My 20 DMA Rejected ?

We did again tested yesterday the 20 DMA ( Day Moving Average at $91.69 )
and it was rejected violently. We did trade as high of $91.74 and fade
thereafter to close below the 20 DMA, a very weak technical stance indeed.

We are in the same kind of trading range and into the consolidation channel
since June 16. I need a daily close above $91.70 to turn bullish, unless still
into consolidation mode and the risk of slippage continue.

We broke on June 18 the 20 DMA on the ratio of Apple Shares compare to
the SP500 - a bad omen indeed. ( See 2 nd chart below - yellow line ).

I expect volatility to be above average.

Relative Volatility fell ( with weaker prices - a very bad mix ) and Counter Trend is turning to a bullish behavior for Apple Shares since SP500 Futures broke down the 1947 level and finally, Correlation are not anymore into the critical phase ( from 0.44 to -0.43 ).

Those risks factors are slightly bullish compare to the last few sessions. Counter Trend is near a turnaround.

I think that Counter Trend will start and expect Apple Shares to outperform SP500 in the next few sessions

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $88.50 as support and $91.80 as resistance.

Also, we are into a new downtrend channel that started on June 20 with $89.70 as support and $91.30 as resistance.

Starting to trade below $89.75 will mean to me extreme technical weakness...
Starting to trade AND stay above $91.70 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $91.70 will give us another bullish impulse scenario and direct go towards $92.45 max $93.04 for now in the next few sessions.

Need to stay below on a daily close $91.70 to iAm in Consolidation Mode ...

A daily close below $91.70 but above $89.75 will mean for me that we are into a consolidation pattern trade scenario for a few sessions

A daily close below $89.75 will mean for me that we are back into a correction phase and another gap down towards $89.41 max $88.93.

Apple shares performed as the SP500 on June 24 (2nd chart below).

Expect a day trading range between $89.40 - $90.90 with above average volatility.

Support : $89.75 and $89.41 Resistance : $90.87 and $91.30

June 24 My 20 DMA ?

Yesterday we had our Dead Cat Bounce. I was targeting towards
the 20 DMA ( Day Moving Average at $91.49 ), even $91.80.
We did trade as high of $91.62 and fade thereafter to close below the
20 DMA, a very weak technical stance indeed. ( Now at $91.64 ).

We are in the same kind of trading range and into the consolidation channel
since June 16. I need a daily close above $92.10 to turn bullish, unless still
into consolidation mode and the risk of slippage continue.

We broke on June 18 the 20 DMA on the ratio of Apple Shares compare to
the SP500 - a bad omen indeed. ( See 2 nd chart below - yellow line ).

At this stage, the main slippage risk from retail players and options skew are behind us.

I expect volatility to be above average.

Relative Volatility rose ( with weaker prices - a bad mix ) and Counter Trend is turning to a neutral behavior for Apple Shares since SP500 Futures broke up the 1947 level and finally, Correlation are not anymore into the critical phase ( from 0.41 to -0.44 ).

Those risks factors are slightly bullish compare to the last few sessions. Counter Trend is near a turnaround.

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $88.80 as support and $92.10 as resistance.

Also, we are not anymore into a consolidation channel that started on June 16 with $91.16 support and $92.45 as resistance.

Starting to trade below $90.36 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.45 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.45 will give us another bullish impulse scenario and direct go towards $93.04 max $93.50 for now in the next few sessions.

Need to stay below on a daily close $92.10 to iAm in Consolidation Mode ...

A daily close below $92.10 but above $90.36 will mean for me that we are into a consolidation pattern trade scenario for a few sessions

A daily close below $90.36 will mean for me that we are back into a correction phase and another gap down towards $89.75 max $89.10.

Apple shares underperformed the SP500 on June 23 (2nd chart below).

Expect a day trading range between $90.00 - $91.60 with above average volatility.

Support : $90.36 and $89.75 Resistance : $91.25 and $91.64

June 23 Dead Cat Bounce ?

Last Friday, in the last 10 minutes of the trading session, Apple Shares went
from $91.46 to $90.90 - option related. I expect a dead cat bounce towards
the 20 DMA ( Day Moving Average at $91.49 ), even $91.80 today. A closing
above the 20 DMA will be more constructive technically speaking but still
into a consolidation mode. Next potential target then, the upper channel at
$92.50.

We are in the same kind of trading range and into the consolidation channel
since June 16. I need a daily close above $92.50 to turn bullish, unless still
into consolidation mode.

We broke on June 18 the 20 DMA on the ratio of Apple Shares compare to
the SP500 - a bad omen indeed. ( See 2 nd chart below - yellow line ).

At this stage, the main slippage risk from retail players and options skew are behind us.

I expect volatility to be above average.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend is turning to a neutral behavior for Apple Shares since SP500 Futures broke up the 1942 level and finally, Correlation are not anymore into the critical phase ( from 0.01 to -0.41 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $89.10 as support and $92.45 as resistance.

Also, within that downtrend channel, there is a new consolidation channel that started on June 16 with $91.20 support and $92.50 as resistance.

Starting to trade below $90.87 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.50 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.50 will give us another bullish impulse scenario and direct go towards $93.04 max $93.50 for now in the next few sessions.

Need to stay below on a daily close $92.50 to iAm in Consolidation Mode ...

A daily close below $92.50 but above $91.20 will mean for me that we are into a consolidation pattern trade scenario for a few sessions

A daily close below $91.20 will mean for me that we are back into a severe correction phase and another gap down towards $90.36 max $89.10.

Apple shares underperformed the SP500 on June 20 (2nd chart below).

Expect a day trading range between $90.70 - $92.00 with average volatility.

Support : $90.87 and $90.36 Resistance : $91.80 and $92.30

June 20 Still into the Consolidation Channel ?

We are in the same kind of trading range and into the consolidation channel
since June 16. I need a daily close above $92.56 to turn bullish, unless still
into consolidation mode.

So, IF a daily close above $92.56 will confirm that bullish scenario and we
will go testing the upper resistance trendline of the downtrend channel at
$92.75 and $93.50 for now.

We broke yesterday the 20 DMA on the ratio of Apple Shares compare to
the SP500 - a bad omen indeed. ( See 2 nd chart below - yellow line ).

At this stage, the main slippage risk from retail players are behind us.

I expect volatility to be average.

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend is turning to a neutral behavior for Apple Shares since SP500 Futures broke up the 1936 level and finally, Correlation are not anymore into the critical phase ( from 0.41 to 0.01 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $89.40 as support and $92.75 as resistance.

Also, within that downtrend channel, there is a new consolidation channel that started on June 16 with $91.26 support and $92.56 as resistance.

Starting to trade below $90.87 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.56 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.56 will give us another bullish impulse scenario and direct go towards $93.04 max $93.50 for now in the next few sessions.

Need to stay below on a daily close $92.56 to iAm in Consolidation Mode ...

A daily close below $92.56 but above $91.26 will mean for me that we are into a consolidation pattern trade scenario for a few sessions

A daily close below $91.26 will mean for me that we are back into a severe correction phase and another gap down towards $90.36 max $89.70.

Apple shares underperformed the SP500 on June 19 (2nd chart below).

Expect a day trading range between $90.90 - $92.80 with average volatility.

Support : $91.28 and $90.87 Resistance : $92.07 and $92.30

June 19 Consolidation Channel ?

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $89.70 as support and $93.00 as resistance.

Also, within that downtrend channel, there is a new consolidation channel that started on June 16 with $91.30 support and $92.60 as resistance.

Starting to trade below $91.02 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.60 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.60 will give us another bullish impulse scenario and direct go towards $93.04 max $93.50 for now in the next few sessions.

Need to stay below on a daily close $92.60 to iAm in Consolidation Mode ...

A daily close below $92.60 but above $91.02 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions

A daily close below $91.02 will mean for me that we are back into a severe correction phase and another gap down towards $90.10 max $89.70.

Apple shares underperformed the SP500 on June 18 (2nd chart below).

Expect a day trading range between $91.80 - $93.00 with average volatility.

Support : $92.07 and $91.80 Resistance : $92.75 and $93.04

June 18 Still Resuming Uptrend ?

Not much have changed since yesterday for me. We did retest the $92.70
zone and failed but we did not make a new low compare to the previous close.
A painful grind but still in the good direction and still into the Resuming
Uptrend Phase.

So, a daily close above $92.56 will confirm that scenario and we will
go testing the upper resistance trendline of the downtrend channel at
$93.30 for now.

At this stage, the main slippage risk from retail players are behind us.

I expect volatility in the next few sessions to get back to average.

We need a daily close today above $92.56 to be back into the bullish scenario, unless still into consolidation mode.

Relative Volatility rose ( with weaker prices - a bad mix ) and Counter Trend is turning to a bullish behavior for Apple Shares since SP500 Futures broke the 1936 level and finally, Correlation are not into the critical
phase ( from 0.66 to 0.78 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

We are still into a downtrend channel that started on June 10 with $90.00 as support and $93.30 as resistance.

Also, within that downtrend channel, there is a new uptrend channel that started on June 13 with $92.27 support and $93.85 as resistance.

Starting to trade below $90.87 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.56 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.56 will give us another bullish impulse scenario and direct go towards $93.04 max $93.90 for now in the next few sessions.

Need to stay below on a daily close $92.56 to iAm in Consolidation Mode ...

A daily close below $92.56 but above $90.87 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions

A daily close below $90.87 will mean for me that we are back into a severe correction phase and another gap down towards $90.10 max $88.93.

Apple shares underperformed the SP500 on June 17 (2nd chart below).

Expect a day trading range between $92.00 - $93.30 with average volatility.

Support : $92.07 and $91.80 Resistance : $92.75 and $93.04

June 17 Resuming Uptrend ?

Yesterday for me was the final test of the Retail Players.
Tehnically speaking, we did not make a new low ( vs earlier day close ),
we tested the $92.75 level and failed but did not pullback tremendously.

So, a daily close above $92.56 will confirm that scenario and we will
go testing the upper resistance trendline of the downtrend channel at
$93.60 for now.

At this stage, the main slippage risk from retail players are behind us.

I expect volatility in the next few sessions to get back to average.

We need a daily close today above $92.56 to be back into the bullish
scenario, unless still into consolidation mode.

Relative Volatility fell ( with stronger prices - a bad mix ) and Counter
Trend is turning to a bullish behavior for Apple Shares since SP500 Futures
broke the 1936 level and finally, Correlation are now into the critical
phase ( from 0.66 to 0.66 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

We are back in a downtrend channel that started on June 10 with
$91.00 as support and $93.60 as resistance.

Starting to trade below $90.87 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.56 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.56 will give us another bullish
impulse scenario and direct go towards $93.04 max $93.90 for now in the
next few sessions.

Need to stay below on a daily close $92.56 to iAm in Consolidation Mode ...

A daily close below $92.56 but above $90.87 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions

A daily close below $90.87 will mean for me that we are back into a severe correction phase and another gap down towards $90.10 max $88.93.

Apple shares outperformed the SP500 on June 16 (2nd chart below).

Expect a day trading range between $92.00 - $93.50 with average volatility.

Support : $92.07 and $91.375 Resistance : $92.75 and $93.04

June 16 My Broken Channel ?

Today s is the critical phase for the Retail Players.

The opening price last Monday morning ( June 9 ) was $91.75 and the closing
price last Friday ( June 13 ) was $91.28. That tells me that all the retail
buying is now below water. I ve been warning you of that scenario, the
saloons door experiment.

We still can see a follow through of that capitulation phase today, because
the difference between last June 9 and now, is that the SP500 is into a
correction mode... $90.10 is the kind of total capitulation level for me...

Only a daily close above the $92.56 level will cancel that risk.

I still expect volatility in the next few sessions to get to extreme.

We need a daily close today above $92.56 to be back into the bullish
scenario, unless into consolidation mode.

Relative Volatility rose ( with weaker prices - a bad mix ) and Counter
Trend is turning to a neutral behavior for Apple Shares since SP500 Futures
broke the 1929 level and finally, Correlation are now into the critical
phase ( from 0.66 to 0.64 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

We are not anymore in a downtrend channel that started on June 10 with
$91.30 as support and $93.90 as resistance.

Starting to trade below $90.87 will mean to me extreme technical weakness...
Starting to trade AND stay above $92.56 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $92.56 will give us another bullish
impulse scenario and direct go towards $93.04 max $93.90 for now in the
next few sessions.

Need to stay below on a daily close $92.56 to iAm in Consolidation Mode ...

A daily close below $92.56 but above $90.87 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions

A daily close below $90.87 will mean for me that we are back into a severe correction phase and another gap down towards $90.10 max $88.93.

Apple shares underperformed the SP500 on June 13 (2nd chart below).

Expect a day trading range between $90.40 - $91.70 with above average volatility.

Support : $90.87 and $90.36 Resistance : $91.75 and $92.56

June 13 Saloons Door Experiment?

Yesterday I wrote: I really fear the fact that now most of the retail buying is
behind us and that hedge fund and or iCahn take profit on a portion of their
holdings.The past two sessions was a real roller coaster and I think it will
be the same today.

So the opening price Monday morning was $91.75 and the closing price
yesterday was $92.29. That tells me that almost all the retail buying is
now below water. I ve been warning you of that scenario, the saloons
door experiment.

We can see a huge capitulation today, because the difference between last
Monday and now, is that the SP500 is into a correction mode...
$89.75 is the kind of total capitulation level for me...

One fact that still seems unreal to me is that with that kind of price volatility
that we did go through on the past two sessions, Relative Volatility fell,
indicating profit taking - see 3rd chart below.

So we broke the $93.15 level, turning into a consolidation, even a potential
capitulation mode.

Then I expect volatility in the next few sessions to get to extreme.

We need a daily close today above $93.04 to be back into the bullish
scenario, unless into consolidation mode.

Relative Volatility fell ( with weaker prices - a very bad mix ) and Counter
Trend is turning to a neutral behavior for Apple Shares since SP500 Futures
broke the 1936.5 level and finally, Correlation are now into the critical
phase ( from 0.78 to 0.66 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $91.25 will mean to me extreme technical weakness...
Starting to trade AND stay above $93.04 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $93.04 will give us another bullish impulse scenario and direct go towards $93.90 max $94.30 for now in the next few sessions.

Need to stay below on a daily close $93.04 to iAm in Consolidation Mode ...

A daily close below $93.04 but above $91.25 will mean for me that we are into a consolidation pattern trade scenario for a few sessions

A daily close below $91.25 will mean for me that we are back into a severe correction phase and another gap down towards $90.69 max $89.74.

Apple shares underperformed the SP500 on June 12 (2nd chart below).

Expect a day trading range between $90.70 - $92.80 with above average volatility.

Support : $91.25 and $90.69 Resistance : $92.02 and $92.77

June 12 The ET Experiment - Final Coundown ?

We are going into the Final Countdown of the ET Experiment. ET stand for
Euphoria phase and Timber or Tumble thereafter. Yesterday was a real roller
coaster and I think it will be the same today.

One fact that seems unreal to me is that with that kind of price volatility
that we did go through on the past two sessions, Relative Volatility fell,
indicating profit taking - see 3rd chart below.

I really fear the fact that now most of the retail buying is behind us and that
hedge fund and or iCahn take profit on a portion of their holdings.

You can tell me that we did close above my critical $93.40 level yesterday
and today will be the same game plan but with a tiny change - my level is
now $93.15. On the other side, the kind of volatility in Apple Shares AND NOT
in the SP500 makes the battle of retail and institutional a major factor of
indecision, technically speaking.

Now that most retail players have bought and they are long, today still a
critical test: Either or:
1) On the pullback they keep buying again and they are able to have a daily
close above $93.15 - for me that will be good technically speaking.
2) Or Breaking the $93.15 level, so unable to keep the price up:
will we see a panic selling?

Then I expect volatility in the next few sessions to get to extreme.

We still need a daily close today above $93.15 to stay into the bullish
scenario, unless back into consolidation mode.

Relative Volatility fell ( with weaker prices - a very bad mix ) and Counter
Trend is turning to a neutral behavior for Apple Shares since SP500 Futures
broke the 1927 level and finally, Correlation are now into the critical
phase ( from 0.84 to 0.78 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $93.15 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.05 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.05 will give us another bullish impulse scenario and direct go towards $95.40 max $95.80 for now in the next few sessions.

Need to stay above on a daily close $93.15 to iAm still in Bullish Mode ...

A daily close below $95.05 but above $93.15 will mean for me that we are into a bullish pattern trade scenario for a few sessions

A daily close below $93.15 will mean for me that we are back into a correction phase and another gap down towards $91.75 max $90.87.

Apple shares underperformed the SP500 on June 11 (2nd chart below).

Expect a day trading range between $93.00 - $94.70 with above average volatility.

Support : $93.40 and $93.15 Resistance : $94.27 and $95.05

June 11 The ET Experiment - part 2 ?

We are going into the part 2 of the ET Experiment. ET stand for Euphoria
phase and Timber or Tumble thereafter. We surely saw a lot of retail buying
into Apple Shares on June 9 and June 10; so for me the Euphoria Phase is
over. We are now starting the test of the Timber Phase.

Now that most have bought and they are long, today start the critical test:
Either or:
1) On the pullback they keep buying again and they are able to have a daily
close above $93.40 - for me that will be good technically speaking.
2) Or Breaking the $93.40 level, so unable to keep the price up:
will we see a panic selling?

Then I expect volatility in the next few sessions to get to extreme.

We still need a daily close today above $92.60 to stay into the bullish
scenario, unless back into consolidation mode.

Relative Volatility rose slightly ( with weaker prices - a bad mix ) and
Counter Trend is turning to a neutral behavior for Apple Shares since SP500
Futures broke the 1927 level and finally, Correlation are now into the critical
phase ( from 0.83 to 0.84 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $92.60 will mean to me extreme technical weakness...
Starting to trade AND stay above $95.05 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $95.05 will give us another
bullish impulse scenario and direct go towards $95.40 max $95.80 for
now in the next few sessions.

Need to stay above on a daily close $92.60 to iAm still in Bullish Mode ...

A daily close below $95.05 but above $92.60 will mean for me that we are
into a bullish pattern trade scenario for a few sessions

A daily close below $92.60 will mean for me that we are back into a correction phase and another gap down towards $91.75 max $90.87.

Apple shares outperformed the SP500 on June 10 (2nd chart below).

Expect a day trading range between $93.40 - $94.70 with above average volatility.

Support : $93.40 and $93.04 Resistance : $94.27 and $95.05

June 10

The ET Experiment ?

We are going into the ET Experiment. ET stand for Euphoria phase and
Timber or Tumble thereafter. We surely saw yesterday a lot of retail buying
into Apple Shares. That may continue 1 MAX 2 sessions into Euphoria phase.
Then after, only long remains, the risk is to see iCahn or some hedge fund
dumping their shares.

ThenI expect volatility in the next few sessions to get to extreme.

We still need a daily close today above $92.10 to stay into the bullish
scenario, unless back into consolidation mode.

We are into a bullish phase, as long as $92.10 hold.

Relative Volatility fell ( with stronger prices - a bad mix ) and
Counter Trend is turning to a neutral behavior for Apple Shares since SP500
Futures broke the 1927 level and finally, Correlation are now into the critical
phase ( from 0.74 to 0.83 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $92.10 will mean to me extreme technical weakness...
Starting to trade AND stay above $94.69 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.69 will give us another
bullish impulse scenario and direct go towards $94.94 max $95.50 for
now in the next few sessions.

Need to stay above on a daily close $92.10 to iAm still in Bullish Mode ...

A daily close below $94.69 but above $92.10 will mean for me that we are
into a bullish pattern trade scenario for a few sessions

A daily close below $92.10 will mean for me that we are back into a
correction phase and another gap down towards $90. 87 max $89.75.

Apple shares outperformed the SP500 on June 9 (2nd chart below).

Expect a day trading range between $93.00 - $94.70 with above average volatility.

Support : $93.88 and $93.04 Resistance : $94.38 and $94.69

June 9 The Stock Split ?

With the stock split effective June 9 and retail participants interest plus
potentially Icahn selling a portion of his holding, I expect volatility in the
next few sessions to get to extreme.

I Expect Retail Players Buying into the next few sessions but the timing of
Icahn is a lot more tougher to forecast.

We still need a daily close today above $91.60 to stay into the bullish
scenario, unless back into consolidation mode.

We are into a bullish phase, as long as $91.60 hold.

Relative Volatility rose ( with stronger prices - a very good mix ) and
Counter Trend is turning to a neutral behavior for Apple Shares since SP500
Futures broke the 1904 level and finally, Correlation are now into the critical
phase ( from 0.85 to 0.74 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $91.60 will mean to me extreme technical weakness...
Starting to trade AND stay above $94.12 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $94.12 will give us another
bullish impulse scenario and direct go towards $94.70 max $95.20 for
now in the next few sessions.

Need to stay above on a daily close $91.60 to iAm still in Bullish Mode ...

A daily close below $94.12 but above $91.60 will mean for me that we are
into a bullish pattern trade scenario for a few sessions

A daily close below $91.60 will mean for me that we are back into a
correction phase and another gap down towards $90.87 max $89.97.

Apple shares Underperformed the SP500 on June 6 (2nd chart below).

Expect a day trading range between $91.60 - $93.54 with above average volatility.

Support : $92.07 and $91.60 Resistance : $93.04 and $93.54

June 6 Expect Volatility Ahead ?

With the stock split looming ( will start to trade at a new price on June 9 )
and that retail participants interest plus potentially Icahn selling a portion
of his holding, I expect volatility in the next few sessions to get to extreme.

We still need a daily close today above $636.10 to stay into the bullish
scenario, unless back into consolidation mode.

We are into a bullish phase, as long as $636.10 hold.

Relative Volatility rose ( with stronger prices - a very good mix ) and
Counter Trend is turning to a neutral behavior for Apple Shares since SP500
Futures broke the 1904 level and finally, Correlation are now into the critical
phase ( from 0.80 to 0.85 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $636.10 will mean to me extreme technical weakness...
Starting to trade AND stay above $656.00 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $656.00 will give us another
bullish impulse scenario and direct go towards $659.50 max $662.60 for
now in the next few sessions.

Need to stay above on a daily close $636.10 to iAm back in Bullish Mode ...

A daily close below $656.00 but above $636.10 will mean for me that we are
into a bullish pattern trade scenario for a few sessions

A daily close below $636.10 will mean for me that we are back into a
correction phase and another gap down towards $622.50 max $614.70.

Apple shares Underperformed the SP500 on June 5 (2nd chart below).

Expect a day trading range between $636 - $652 with above average volatility.

Support : $644.20 and $638.70 Resistance : $652.50 and $656.00

June 5 D-Day for Apple Shares ?

Yesterday, we did closed above my level ( $634.80 level ) and then changed
the scenario from consolidation to back to bullish.

BUT we need a daily close today above $636.10 to stay into the bullish
scenario, unless back into consolidation mode.

We are back into a bullish phase, as long as $636.10 hold.

Relative Volatility rose ( with stronger prices - a very good mix ) and
Counter Trend is turning to a neutral behavior for Apple Shares since SP500
Futures broke the 1904 level and finally, Correlation are now into the critical
phase ( from 0.90 to 0.80 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $636.10 will mean to me extreme technical weakness...
Starting to trade AND stay above $653.60 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $653.60 will give us another
bullish impulse scenario and direct go towards $657.10 max $660.00 for
now in the next few sessions.

Need to stay above on a daily close $636.10 to iAm back in Bullish Mode ...

A daily close below $653.60 but above $636.10 will mean for me that we are
into a bullish pattern trade scenario for a few sessions

A daily close below $636.10 will mean for me that we are back into a
correction phase and another gap down towards $628.20 max $622.50.

Apple shares Outperformed the SP500 on June 4 (2nd chart below).

Expect a day trading range between $638 - $650 with above average volatility.

Support : $642.20 and $638.70 Resistance : $653.60 and $657.10

June 4 D-Day for Apple Shares ?

Well, I was astonished to see the behavior of Apple Shares yesterday. It did
closed above my level ( $634.80 level ) and then changed the scenario
from consolidation to back to bullish.

BUT we need a daily close today above that level ( $634.80 ) to stay into the
bullish scenario, unless it will be a false signal and back into consolidation
mode. Because of that, it s D-Day.

We are back into a bullish phase, as long as $634.80 hold.

Relative Volatility fell again ( with stronger prices - a bad mix ) and
Counter Trend is turning to a neutral behavior for Apple Shares since SP500
Futures broke the 1904 level and finally, Correlation are now into the critical
phase ( from 0.98 to 0.90 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $631.50 will mean to me extreme technical weakness...
Starting to trade AND stay above $644.20 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $644.20 will give us another
bullish impulse scenario and direct go towards $649.00 max $652.00 for
now in the next few sessions.

Need to stay above on a daily close $634.80 to iAm back in Bullish Mode ...

A daily close below $644.20 but above $634.80 will mean for me that we are
into a bullish pattern trade scenario for a few sessions

A daily close below $634.80 will mean for me a risk of a more quicker and
severe correction phase and another gap down towards $628.20 max $622.50.

Apple shares Outperformed the SP500 on June 3 (2nd chart below).

Expect a day trading range between $633 - $642 with above average volatility.

Support : $634.80 and $631.50 Resistance : $639.40 and $644.20

June 3 Officially in Consolidation Mode ?

We broke the $631.60 level on a daily close yesterday. What I was expecting
since last Friday is officially confirmed. We are into a consolidation phase,
then targeting MAX the $614.70 as the level to hold to stay bullish long term.

And historically speaking, for the past 10 years, Apple Shares prices
finish the week lower in prices in the WWDC week.

I am just wondering at this point in time if the consolidation will be deeper
and more violent than expected before resuming uptrend. ( $609.90??)

We are into a short term consolidation phase, as long as $634.80 hold.

Relative Volatility fell abruptly ( with weaker prices - a very bad mix ) and
Counter Trend is turning to a bearish behavior for Apple Shares since SP500
Futures broke the 1904 level and finally, Correlation are now into the critical
phase ( from 0.99 to 0.98 ).

Those risks factors are bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $620.20 will mean to me extreme technical weakness...
Starting to trade AND stay above $634.80 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $634.80 will give us another
bullish impulse scenario and direct go towards $636.70 max $644.20 for
now in the next few sessions.

Need to stay below on a daily close $634.80 to iAm in Consolidation ...

A daily close below $634.80 but above $620.20 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions

A daily close below $620.20 will mean for me a risk of a more quicker and
severe correction phase and another gap down towards $614.70 max $609.90.

Apple shares Underperformed the SP500 on June 2 (2nd chart below).

Expect a day trading range between $620 - $631 with above average volatility.

Support : $622.50 and $614.70 Resistance : $629.80 and $634.80

June 2 The WWDC Week ?

This is the WWDC week ( Worldwide Developers Conference ) from Apple.
A lot of expectations and rumours about new products annoucement.
But historically speaking, for the past 10 years, Apple Shares prices
finish the week lower in prices.

Last Friday we had that first consolidation warning. I think it will continue
all week long. The gap up near the stock split and retail buying will end badly
as Icahn will dump part of his holding.

I do not turn bearish but will not be surprise of a consolidation period
for a few sessions. $631.60 will tell me that ( a close below ) then targeting
MAX the $614.70 as the level to hold to stay bullish long term.

We are still into a short term bullish trend, as long as $631.60 hold.

Relative Volatility rose ( with weaker prices - a very bad mix ) and Counter
Trend is turning to a more neutral behavior for Apple Shares since SP500
Futures broke the 1904 level and finally, Correlation are now into the critical
phase ( from 0.94 to 0.99 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $631.60 will mean to me extreme technical weakness...
Starting to trade AND stay above $644.20 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $644.20 will give us another
bullish impulse scenario and direct go towards $649.00 max $651.90 for
now in the next few sessions.

Need to stay above on a daily close $631.60 to iAm still Bullish ...

A daily close below $644.20 but above $631.60 will mean for me that we are
into a bullish pattern trade scenario.

A daily close below $631.60 will mean for me a risk of a consolidation phase
and another gap down towards $624.90 max $614.70 for now.

Apple shares Underperformed the SP500 on May 29 (2nd chart below).

Expect a day trading range between $627 - $640 with above average volatility.

Support : $629.80 and $624.90 Resistance : $636.90 and $639.40

May 30 Runaway Train?

Apple Shares performed extremely well since mid-April. And this week, it
become a runaway train. That potential scenario explained in my research
last Sunday is the leat interesting. The gap up near the stock split and retail
buying will end badly as Icahn will dump part of his holding.

But during that period, enjoy the ride...

I do not turn bearish but will not be surprise of a consolidation period
for a few sessions. $631.90 will tell me that ( a close below ) then targeting
$614.70 as the level to hold to stay bullish long term.

We are still into a bullish trend, as long as $631.90 hold.

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter
Trend is turning to a more neutral behavior for Apple Shares since SP500
Futures broke the 1904 level and finally, Correlation are now into the critical
phase ( from 0.93 to 0.94 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $631.90 will mean to me extreme technical weakness...
Starting to trade AND stay above $643.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $643.40 will give us another
bullish impulse scenario and direct go towards $646.90 max $650.00 for
now in the next few sessions.

Need to stay above on a daily close $631.90 to iAm still Bullish ...

A daily close below $643.40 but above $631.90 will mean for me that we are
into a bullish pattern trade scenario.

A daily close below $631.90 will mean for me a risk of a consolidation phase
and another gap down towards $623.80 max $614.70 for now.

Apple shares Outperformed the SP500 on May 29 (2nd chart below).

Expect a day trading range between $630 - $643 with above average volatility.

Support : $633.80 and $631.90 Resistance : $640.00 and $643.40

May 29 Consolidation Phase ?

Apple Shares performed extremely well since mid-April. But indicators are
pointing to near term overbought conditions. My Ultimate monthly target of
$629.80 was reached on May 28.

And yesterday, we had a nasty candle at the top of the range...

I do not turn bearish but will not be surprise of a consolidation period
for a few sessions. $623.40 will tell me that ( a close below ) then targeting
$609.90 as the level to hold to stay bullish.

We are still into a bullish trend, as long as $609.90 hold.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend is turning to a more neutral behavior for Apple Shares since SP500
Futures broke the 1882 level and finally, Correlation are now into the critical
phase ( from 0.91 to 0.93 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $609.90 will mean to me extreme technical weakness...
Starting to trade AND stay above $629.80 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $629.80 will give us another
bullish impulse scenario and direct go towards $633.40 max $635.60 for
now in the next few sessions.

Need to stay above on a daily close $609.90 to iAm still Bullish ...

A daily close below $629.80 but above $609.90 will mean for me that we are
into a bullish pattern trade scenario.

A daily close below $609.90 will mean for me a risk of a consolidation phase
and another gap down towards $603.50 max $596.10 for now.

Apple shares Underperformed the SP500 on May 28 (2nd chart below).

Expect a day trading range between $618 - $630 with above average volatility.

Support : $623.40 and $618.20 Resistance : $629.80 and $633.40

May 28 Near Euphoria End ?

Apple Shares are on fire. But indicators are pointing to near term overbought
conditions. My Ultimate monthly target of $629.80 is almost already reach.
I do not turn bearish but will not be surprise of a consolidation period
for a few sessions. $621.30 will tell me that ( a close below ) then targeting
$609.90 as the level to hold.

We are still into a bullish trend, as long as $609.90 hold.

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend is turning to a more neutral behavior for Apple Shares since SP500
Futures broke the 1882 level and finally, Correlation are not into the critical
phase( from 0.48 to 0.91 ).

Those risks factors are slightly bearish compare to the last few sessions.

Now back to technicals:

Starting to trade below $609.90 will mean to me extreme technical weakness...
Starting to trade AND stay above $629.80 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $629.80 will give us another
bullish impulse scenario and direct go towards $631.50 max $635.00 for
now in the next few sessions.

Need to stay above on a daily close $609.90 to iAm still Bullish ...

A daily close below $629.80 but above $609.90 will mean for me that we are
into a bullish pattern trade scenario.

A daily close below $609.90 will mean for me a risk of a consolidation phase
and another gap down towards $603.50 max $596.10 for now.

Apple shares Outperformed the SP500 on May 27 (2nd chart below).

Expect a day trading range between $621 - $630 with above average volatility.

Support : $621.30 and $618.50 Resistance : $629.80 and $631.50

May 27 Last Impulse ?

Apple Shares are on fire. Most of the bullish factors are at play almost at the
same time.Today, I think that we will see more Counter Trend trades
( so sellers of SP500 to buy Apple Shares ).

Also, since we broke the relative level on May 16 compare to the SP500,
Apple Shares technical impulse gained in strenght. That relative performance
must stay above the amber line level for technical strenght to continue.
( See 2nd chart below ).

We are still into a bullish trend, as long as $608.60 hold.

Last week, we had a technical bullish impulse. We are getting near a huge
congestion zone ( $614 to $621 ) back in 2012 where I think we will
see a pause / consolidation...

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend is turning to a more bullish behavior for Apple Shares since SP500
Futures broke the 1882 level and finally, Correlation are not anymore
into the critical phase( from 0.50 to 0.48 ).

Those risks factors are bullish compare to the last few sessions.

Now back to technicals:

Starting to trade below $606.70 will mean to me extreme technical weakness...
Starting to trade AND stay above $619.50 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $619.50 will give us another
bullish impulse scenario and direct go towards $622.50 max $624.40 for
now in the next few sessions.

Need to stay above on a daily close $608.60 to iAm still Bullish ...

A daily close below $619.50 but above $608.60 will mean for me that we are
into a bullish pattern trade scenario.

A daily close below $608.60 will mean for me a risk of a consolidation phase
and another gap down towards $603.50 max $596.10 for now.

Apple shares Outperformed the SP500 on May 23 (2nd chart below).

Expect a day trading range between $612 - $621 with above average volatility.

Support : $614.70 and $609.90 Resistance : $619.50 and $622.50

May 23 Counter Trend + Tricky Fridays ?

Two contrarian factors at play.
Today will be very tricky, like all Fridays: Usually bearish. On the other side,
I think that we will see Counter Trend trades ( so sellers of SP500 to buy
Apple Shares ). So a tough call but must follow the technical levels.

Yesterday, to have a technical bullish impulse, we needed to close above the
$610.40 level. Today, it is $613.60...

We are still into a bullish trend, as long as $597.30 hold.

I just want to mention that the $614 to $621 zone was a huge congestion
zone back in 2012 where I think we will see a pause...

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend is turning to a more bullish behavior for Apple Shares since SP500
Futures stayed broke the 1882 level and finally, Correlation are not anymore
into the critical phase( from 0.04 to 0.50 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

Starting to trade below $597.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $613.60 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $613.60 will give us another
bullish scenario and direct go towards $615.90 max $617.70 for now
in the next few sessions.

Need to stay above on a daily close $597.30 to iAm still Bullish ...

A daily close below $613.60 but above $597.30 will mean for me that we are
into a bullish pattern trade scenario.

A daily close below $597.30 will mean for me a risk of a consolidation phase
and another gap down towards $594.00 max $589.50 for now.

Apple shares Outperformed the SP500 on May 22 (2nd chart below).

Expect a day trading range between $603 - $612 with above average volatility.

Support : $602.50 and $597.30 Resistance : $609.90 and $613.60

May 22 Consolidation Phase Still ?

Not much have changed for me since yesterday.

After a new high on May 19 at $607.33 , we started a consolidation phase
that will last a few sessions. The market is still in a macro bullish technical
set up BUT we need to consolidate before resuming uptrend. We need to
stay above $597.30 for that scenario...

I just want to mention that the $614 to $621 zone was a huge congestion
zone back in 2012 where I think we will see a pause...

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend is turning to a more bullish behavior for Apple Shares since SP500
Futures stayed broke the 1882 level and finally, Correlation are not anymore
into the critical phase( from -0.21 to 0.04 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

Starting to trade below $597.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $610.40 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $610.40 will give us another
bullish scenario and direct go towards $613.90 max $617.30 for now
in the next few sessions.

Need to stay above on a daily close $597.30 to iAm still Bullish ...

A daily close below $610.40 but above $597.30 will mean for me that we are
into a conolidation pattern trade scenario for a few sessions.

A daily close below $597.30 will mean for me a risk of a consolidation phase
and another gap down towards $594.20 max $589.50 for now.

Apple shares Underperformed the SP500 on May 21 (2nd chart below).

Expect a day trading range between $601 - $610 with above average volatility.

Support : $601.50 and $597.30 Resistance : $607.30 and $610.40

May 21 Consolidation Phase ?

After a new high on May 19 at $607.33 , we started a consolidation phase
that will last a few sessions. The market is still in a macro bullish technical
set up BUT we need to consolidate before resuming uptrend. We need to
stay above $597.30 for that scenario...

I just want to mention that the $614 to $621 zone was a huge congestion
zone back in 2012 where I think we will see a pause...

Relative Volatility fell ( with stable prices - a good mix ) and Counter
Trend is turning to a neutral behavior for Apple Shares since SP500 Futures
stayed in the range and finally, Correlation are not anymore into the critical
phase( from 0.24 to -0.21 ).

Those risks factors are neutral compare to the last few sessions.

Now back to technicals:

Starting to trade below $597.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $610.40 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $610.40 will give us another
bullish scenario and direct go towards $613.90 max $617.30 for now
in the next few sessions.

Need to stay above on a daily close $597.30 to iAm still Bullish ...

A daily close below $610.40 but above $597.30 will mean for me that we are
into a conolidation pattern trade scenario for a few sessions.

A daily close below $597.30 will mean for me a risk of a consolidation phase
and another gap down towards $594.20 max $589.50 for now.

Apple shares Outperformed the SP500 on May 20 (2nd chart below).

Expect a day trading range between $598 - $607 with above average volatility.

Support : $600.60 and $597.30 Resistance : $607.30 and $610.40

May 20 A Trio of Broken Resistance ?

A lot of interesting technical factors happened again yesterday.
1) We did close above the resistance of $597.50 for a bullish impulse.
2) We did close above the channel resistance line ( now support at $601.50 -
see first chart below ).
3) On a ratio basis with the SP500 ( see second chart below ), we broke the
high resistance level made on December 5 2013.

I just want to mention that the $614 to $621 zone was a huge congestion
zone back in 2012 where I think we will see a pause...

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter
Trend is turning to a bullish behavior for Apple Shares since SP500 Futures
stayed in the range and finally, Correlation are not anymore into the critical
phase( from 0.46 to 0.24 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

Starting to trade below $597.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $610.40 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $610.40 will give us another
bullish scenario and direct go towards $613.90 max $617.30 for now
in the next few sessions.

Need to stay above on a daily close $597.30 to iAm still Bullish ...

A daily close below $610.40 but above $597.30 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $597.30 will mean for me a risk of a consolidation phase
and another gap down towards $594.20 max $589.50 for now.

Apple shares Outperformed the SP500 on May 19 (2nd chart below).

Expect a day trading range between $601 - $611 with above average volatility.

Support : $601.50 and $597.30 Resistance : $610.40 and $613.90

May 19 $597.50 Zone Being Tested?

A lot of interesting technical factors happened last Friday.
1) We did test the crutial level of $586.30 and rebounded strongly from there.
2) We did close at the resistance zone of $597.50 - the upper side of my range.
3) On a ratio basis with the SP500 ( see second chart below ), we are
challenging again the high resistance level made on December 5 2013.

We need to clear the $597.50 level ( trade above and stay above ) on a daily
close to finally get out of that range and have the next bullish impulse..
Unless,there still a risk of a retest of $586.40, level crucial to hold to stay
into the bullish camp...

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter
Trend is turning to a bullish behavior for Apple Shares since SP500
Futures broke down the 1874 level and finally, Correlation are into the
critical phase ( from 0.82 to 0.46 ).

Those risks factors are slightly bullish compare to the last few sessions.

Now back to technicals:

Starting to trade below $586.40 will mean to me extreme technical weakness...
Starting to trade AND stay above $597.50 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $597.50 will give us another
bullish scenario and direct go towards $600.50 max $604.40 for now
in the next few sessions.

Need to stay above on a daily close $586.40 to iAm still Bullish ...

A daily close below $597.40 but above $586.40 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $586.40 will mean for me a risk of a consolidation phase
and another gap down towards $580.30 max $575.10 for now.

Apple shares Outperformed the SP500 on May 16 (2nd chart below).

Expect a day trading range between $592 - $601 with above average volatility.

Support : $591.70 and $586.40 Resistance : $597.50 and $600.50

May 16 Need to Stay Above $586.30 ?

Same game plan here but risk of a slippage of Apple Shares are climbing.
We tested again yesterday the $597.40 zone and failed to stay above - a weak
technical sign. SP500 futures did not hold the 1882 level, Correlation risks
are in the danger zone and we are so close of the $586.30 level...

We need to clear the $597.40 level on a daily close to finally get out of that
range and have the next bullish impulse.. Unless,there still a risk of a retest
of $586.30, level crucial to hold to stay into the bullish camp...

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter
Trend is turning to a more neutral behavior for Apple Shares since SP500
Futures broke the 1882 level and finally, Correlation are into the
critical zone ( from 0.63 to 0.82 ).

Those risks factors are bearish compare to the last session.

Now back to technicals:

Starting to trade below $580.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $597.40 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $597.40 will give us another
bullish scenario and direct go towards $601.00 max $604.40 for now
in the next few sessions.

Need to stay above on a daily close $586.30 to iAm still Bullish ...

A daily close below $597.40 but above $586.30 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $586.30 will mean for me a risk of a consolidation phase
and another gap down towards $580.30 max $575.10 for now.

Apple shares Outperformed the SP500 on May 15 (2nd chart below).

Expect a day trading range between $583 - $594 with above average volatility.

Support : $586.40 and $580.30 Resistance : $594.20 and $597.40

May 15 Counter Trend is Back ?

I think we start to saw yesterday some Countrend Trend Shifts form SP500
towards Apple Shares. That make them more resilient of a correction for now.
That outperformance will continue for a few sessions, even more if SP500
futures break the 1882 level.

We need to clear the $597.40 level on a daily close to finally get out of that
range and have the next bullish impulse.. Unless,there still a risk of a slippage
and a retest of $586.30, level crucial to hold to stay into the bullish camp...

Relative Volatility rose ( with stronger prices - a good mix ) and Counter
Trend is turning to a more bullish behavior for Apple Shares since SP500
Futures fell from the 1898 level and finally, Correlation are not into the
critical zone at all ( from 0.49 to 0.63 ).

Those risks factors are slightly bullish compare to the last session.

Now back to technicals:

Starting to trade below $586.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $597.40 will mean to me technical strenght...

The ride will be an average volatility pattern kind of price action.

Starting to trade and/or a daily close above $597.40 will give us another
bullish scenario and direct go towards $601.00 max $604.40 for now
in the next few sessions.

Need to stay above on a daily close $586.30 to iAm still Bullish ...

A daily close below $597.40 but above $586.30 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $586.30 will mean for me a risk of a consolidation phase
and another gap down towards $580.30 max $575.10 for now.

Apple shares Outperformed the SP500 on May 14 (2nd chart below).

Expect a day trading range between $587 - $596 with above average volatility.

Support : $590.70 and $587.40 Resistance : $597.40 and $599.40

May 14

Same Game Plan Here but I think that today we will go test the $586.30,
level crucial to hold to stay into the bullish camp...

Apple Shares will outperform SP500 but with a tiny corretion expected today
for the SP500 should bring the test of $586.30 for Apple Shares.

Relative Volatility fell ( with stronger prices - a bad mix ) and Counter
Trend is turning to a more bullish behavior for Apple Shares since SP500
Futures closed above the 1883 level and finally, Correlation are not into the
critical zone at all ( from 0.41 to 0.49 ).

Those risks factors are slightly bullish compare to the last session.

Now back to technicals:

Starting to trade below $580.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $597.30 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $597.30 will give us another
bullish scenario and direct go towards $601.00 max $604.40 for now
in the next few sessions.

Need to stay above on a daily close $586.30 to iAm still Bullish ...

A daily close below $597.30 but above $586.30 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $586.30 will mean for me a risk of a consolidation phase
and another gap down towards $580.30 max $575.10 for now.

Apple shares Outperformed the SP500 on May 13 (2nd chart below).

Expect a day trading range between $586 - $595 with above average volatility.

Support : $587.40 and $586.30 Resistance : $594.50 and $597.30

May 13 A New Trend ?

Yesterday I wrote: Near Resuming Uptrend...
By having a daily close above the $592.40 level, it then confirm that the
correction is behind us with $580.33 as low. For that scenario to unfold, we
should not trade below $586.30...

Relative Volatility rose ( with stronger prices - a very good mix ) and Counter
Trend is turning to a more neutral behavior for Apple Shares since SP500
Futures closed above the 1884 level and finally, Correlation are not into the
critical zone at all ( from 0.23 to 0.41 ).

Those risks factors are slightly bulish compare to the last session.

Now back to technicals:

Starting to trade below $580.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $597.30 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $597.30 will give us another
bullish scenario and direct go towards $601.00 max $604.40 for now
in the next few sessions.

Need to stay above on a daily close $586.30 to iAm still Bullish ...

A daily close below $597.30 but above $586.30 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $586.30 will mean for me a risk of a consolidation phase
and another gap down towards $580.30 max $575.10 for now.

Apple shares Outperformed the SP500 on May 12 (2nd chart below).

Expect a day trading range between $586 - $597 with above average volatility.

Support : $587.40 and $586.30 Resistance : $594.20 and $597.30

May 12 Near Resuming Uptrend ?

Last Friday I wrote: Only breaking the $586.30 level on a daily close will tell
me that the consolidation will be on price intead of time. ( range trade ) with
my Ultimate target of $575.14: which will become another buying opportunity.

For that scenario to unfold, we need a daily close below $592.40. If not, it
means that we already made the lows and ready for the next bull phase.

Relative Volatility rose ( with weaker prices - a bad mix ) and Counter Trend
is turning to a more negative behavior for Apple Shares since SP500 Futures
closed above the 1868 level and finally, Correlation are not into the critical
zone at all ( from 0.09 to 0.23 ).

Those risks factors are slightly bearish compare to the last session.

Now back to technicals:

Starting to trade below $580.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $592.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $592.40 will give us another
bullish scenario and direct go towards $597.30 max $601.00 for now
in the next few sessions.

Need to stay below on a daily close $592.40 to iAm still in Consolidation ...

A daily close below $592.40 but above $580.30 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions.

A daily close below $580.30 will mean for me a risk of a consolidation phase
and another gap down towards $575.10 max $572.50 for now.

Apple shares Underperformed the SP500 on May 9 (2nd chart below).

Expect a day trading range between $583 - $593 with above average volatility.

Support : $580.30 and $575.10 Resistance : $589.50 and $592.40

May 9 Consolidation Still ?

Same Game Plan : Testing the $586.36 level and when broken, will confirm
to me that we will retest the $575.14 which will become another buying
opportunity.

Why I say so. Because there is still the possibility of a consolidation in time
vs price. Only breaking the $586.30 level on a daily close will tell me that the
consolidation will be on price intead of time. ( range trade ).

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend
is turning to a more negative behavior for Apple Shares since SP500 Futures
closed above the 1868 level and finally, Correlation are not into the critical
zone at all ( from 0.04 to 0.09 ).

Those risks factors are slightly bearish compare to the last session.

Now back to technicals:

Starting to trade below $579.70 will mean to me extreme technical weakness...
Starting to trade AND stay above $594.20 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $594.20 will give us another
bullish push scenario and direct go towards $597.30 max $601.00 for now
in the next few sessions.

Need to stay below on a daily close $594.20 to iAm still in Consolidation ...

A daily close below $594.20 but above $584.40 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions.

A daily close below $584.40 will mean for me a risk of a consolidation phase
and another gap down towards $579.70 max $575.10 for now.

Apple shares Underperformed the SP500 on May 8 (2nd chart below).

Expect a day trading range between $580 - $590 with above average volatility.

Support : $584.40 and $579.70 Resistance : $589.50 and $594.20

May 8 Consolidation Phase ?

Yesterday I wrote:Today is D-Day for the price action: we must hold $594.20
on a daily close to stay bullish... We did not. So we will do so by testing
first the $586.36 level and when broken, will confirm to me that we will
retest the $575.14 which will become another buying opportunity.

Why I say so. Because there is still the possibility of a consolidation in time
vs price. Only breaking the $586.30 level on a daily close will tell me that the
consolidation will be on price intead of time. ( range trade ).

In term of relative pricing, Apple Shares challenged on May 6 and closed
lower (compare to the SP500), the previous high made on December 5 2013
(see second chart below - Amber Line + ellipses).

Relative Volatility rose ( with weaker prices - a bad mix ) and Counter Trend
is turning to a more nehative behavior for Apple Shares since SP500 Futures
closed above the 1868 level and finally, Correlation are not into the critical
zone at all ( from 0.00 to 0.04 ).

Those risks factors are slightly bearish compare to the last session.

Now back to technicals:

Starting to trade below $586.30 will mean to me extreme technical weakness...
Starting to trade AND stay above $597.30 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $597.30 will give us another
bullish push scenario and direct go towards $604.40 max $607.90 for now
in the next few sessions.

Need to stay below on a daily close $597.30 to iAm still in Consolidation ...

A daily close below $597.30 but above $586.30 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions.

A daily close below $586.30 will mean for me a risk of a consolidation phase
and another gap down towards $579.70 max $575.10 for now.

Apple shares Underperformed the SP500 on May 7 (2nd chart below).

Expect a day trading range between $585 - $594 with above average volatility.

Support : $586.30 and $584.40 Resistance : $594.20 and $597.30

May 7 Market Turmoil ?

Yesterday was a perfect storm for the Mighty SP500 and bring with that price
pressure on the broad market some profit taking in Apple Shares as reflected
by the lower relative Volatility.

Today is D-Day for the price action: we must hold $594.20 on a daily close
to stay bullish...

In term of relative pricing, Apple Shares challenged on May 6 and closed
higher (compare to the SP500), the previous high made on December 5 2013
(see second chart below - Amber Line + ellipses).

Relative Volatility fell ( with weaker prices - a bad mix ) and Counter Trend
is turning to a more positive behavior for Apple Shares and Correlation are
not into the critical zone at all ( from 0.73 to 0.00 ).

Those risks factors are slightly bullish compare to the last session.

Now back to technicals:

Starting to trade below $589.70 will mean to me extreme technical weakness...
Starting to trade AND stay above $604.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $604.40 will give us another
bullish push scenario and direct go towards $607.90 max $611.90 for now
in the next few sessions.

Need to stay above on a daily close $594.20 to iAm still Bullish ...

A daily close below $604.40 but above $594.20 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $594.20 will mean for me a risk of a consolidation phase
and another gap down towards $589.70 max $586.40 for now.

Apple shares Underperformed the SP500 on May 6 (2nd chart below).

Expect a day trading range between $590 - $601 with above average volatility.

Support : $594.20 and $589.70 Resistance : $597.50 and $601.00

May 6 3 for 1 ?

Yesterday was a 3 for 1 technical strenght behavior for Apple Shares.
1) We tested the bottom zone near the $589.50 level and rebounded strongly
2) We closed at a new high and cracked the $600 level
3) We made a new high on the ratio (Apple vs SP500)

So the Consolidation period did not last long.

In term of relative pricing, Apple Shares challenged on May 5 and closed
higher (compare to the SP500), the previous high made on December 5 2013
(see second chart below - Amber Line + ellipses) : Interesting...

Relative Volatility was stable ( with stronger prices ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are not into the critical zone ( from 0.40 to 0.73 ).

Those risks factors are neutral compare to the last session.

Now back to technicals:

Starting to trade below $594.20 will mean to me extreme technical weakness...
Starting to trade AND stay above $606.80 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $606.80 will give us another
bullish push scenario and direct go towards $609.80
max $612.50 for now in the next few sessions.

Need to stay above on a daily close $594.20 to iAm still Bullish ...

A daily close below $606.80 but above $594.20 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $594.20 will mean for me a risk of a consolidation phase
and another gap down towards $589.50 max $586.40 for now.

Apple shares Outperformed the SP500 on May 5 (2nd chart below).

Expect a day trading range between $596 - $606 with above average volatility.

Support : $597.60 and $594.20 Resistance : $603.70 and $606.80

May 5 Consolidation Still ?

We are still into a same pattern of the past three sessions but with tiny
change on technical levels. We need some Consolidation.

Breaking the $589.50 level on a daily close will tell me that we will retest
the $575.10 level before resuming uptrend. The best technical scenario is
a hit of the $575.10 level and bounce to retest the $589.50 level...

In term of relative pricing, Apple Shares challenged on April 28 (compare to
the SP500), the previous high made on December 5 2013 (see second chart
below - ellipses) and failed to break the level on that ratio: Very Interesting..

Relative Volatility was stable ( with weaker prices ) and
Counter Trend is turning to a less positive behavior for Apple Shares and
Correlation are not into the critical zone ( from 0.19 to 0.40 ).

Those risks factors are less bullish compare to the last session.

Now back to technicals:

Starting to trade below $589.50 will mean to me extreme technical weakness...
Starting to trade AND stay above $599.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $599.40 will give us another
bullish push scenario and direct go towards $603.20
max $605.50 for now in the next few sessions.

Need to stay above on a daily close $589.50 to iAm still Bullish ...

A daily close below $599.40 but above $589.50 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $589.50 will mean for me a risk of a consolidation phase
and another gap down towards $582.50 max $575.10 for now.

Apple shares Outperformed the SP500 on May 2 (2nd chart below).

Expect a day trading range between $583 - $593 with above average volatility.

Support : $586.40 and $582.50 Resistance : $594.20 and $596.00

May 2 Time VS Price?

We are still into a same pattern of the past two sessions but with tiny
change on technical levels. We need some Consolidation. The question that
I am asking myself is: Can we have a consolidation more in time that in
prices to allow technical indicators to go from ovebought condidions ?
Breaking the $589.50 level on a daily close will tell me that we will retest
the $575.10 level before resuming uptrend.

In term of relative pricing, Apple Shares challenged on April 28 (compare to
the SP500), the previous high made on December 5 2013 (see second chart
below - ellipses) and failed to break the level on that ratio: Very Interesting..

Relative Volatility fell again ( with weaker prices - a very bad sign ) and
Counter Trend is turning to a less positive behavior for Apple Shares and
Correlation are not into the critical zone ( from -0.08 to 0.19 ).

Those risks factors are less bullish compare to the last session.

Now back to technicals:

Starting to trade below $589.50 will mean to me extreme technical weakness...
Starting to trade AND stay above $599.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $599.40 will give us another
bullish push scenario and direct go towards $603.20
max $605.50 for now in the next few sessions.

Need to stay above on a daily close $589.50 to iAm still Bullish ...

A daily close below $599.40 but above $589.50 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $589.50 will mean for me a risk of a consolidation phase
and another gap down towards $582.50 max $575.10 for now.

Apple shares Outperformed the SP500 on May 1 (2nd chart below).

Expect a day trading range between $586 - $596 with above average volatility.

Support : $589.50 and $586.40 Resistance : $596.00 and $599.40

May 1 Counter Trend Behavior ?

We are into a same pattern as I wrote yesterday but with tiny change on
technical levels. We need some Consolidation. Breaking the $589.50 level
will tell me that we will retest the $575.10 level.

In term of relative pricing, Apple Shares challenged on April 28 (compare to
the SP500), the previous high made on December 5 2013 (see second chart
below - ellipses) and failed to break the level on that ratio: Very Interesting..

Relative Volatility fell again ( with weaker prices - a very bad sign ) and
Counter Trend is turning to a less positive behavior for Apple Shares and
Correlation are not into the critical zone ( from -0.24 to -0.08 ).

Those risks factors are less bullish compare to the last session.

Now back to technicals:

Starting to trade below $589.50 will mean to me extreme technical weakness...
Starting to trade AND stay above $599.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $599.40 will give us another
bullish push scenario and direct go towards $603.20
max $605.50 for now in the next few sessions.

Need to stay above on a daily close $589.50 to iAm still Bullish ...

A daily close below $599.40 but above $589.50 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $589.50 will mean for me a risk of another gap down
towards $582.50 max $575.10 for now.

Apple shares Underperformed the SP500 on April 30 (2nd chart below).

Expect a day trading range between $585 - $596 with above average volatility.

Support : $589.50 and $585.70 Resistance : $596.00 and $599.40

Apr 30 Reality Check ?

I think that at this point, the ones who needs to buy Apple Shares already
did it. We need some Consolidation. Breaking the $586.80 level will tell me
that we will retest the $575.10 level.

In term of relative pricing, Apple Shares challenged on April 28 (compare to
the SP500), the previous high made on December 5 2013 (see second chart
below - ellipses) and failed to break the level on that ratio: Very Interesting..

Relative Volatility fell ( with stronger prices - a bad sign ) and
Counter Trend is turning to a less positive behavior for Apple Shares and
Correlation are not into the critical zone ( from -0.21 to -0.24 ).

Those risks factors are less bullish compare to the last session.

Now back to technicals:

Starting to trade below $586.80 will mean to me extreme technical weakness...
Starting to trade AND stay above $596.00 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $596.00 will give us another
bullish push scenario and direct go towards $601.30
max $604.70 for now in the next few sessions.

Need to stay above on a daily close $586.80 to iAm still Bullish ...

A daily close below $596.00 but above $586.80 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $586.80 will mean for me a risk of another gap down
towards $581.20 max $575.10 for now.

Apple shares Underperformed the SP500 on April 29 (2nd chart below).

Expect a day trading range between $585 - $596 with above average volatility.

Support : $586.80 and $583.90 Resistance : $594.50 and $596.00

Apr 29 Euphoria Phase ?

Yesterday I was wrong. I thought that Apple Shares needed one day for
Consolidation. Instead, we broke violently the $575.10 level and exploded
on the upside.

We are into an Euphoria Phase and not sure the Volatility will decrease
( from yesterday yes, but not from usual volatility on Apple Shares ).
We must not forget that at some point, iCahn will have to sell...

In term of relative pricing, Apple Shares are now challenging ( compare to
the SP500 ), the previous high made on December 5 2013 ( see second
chart below - ellipses ).

Take note that working with extended technical levels, it is less precise
than real historical trading data...

In term of relative pricing, Apple Shares are now challenging ( compare to
the SP500 ), the previous high made on December 5 2013 ( see second
chart below - ellipses ).

Take note that working with extended technical levels, it is less precise
than real historical trading data...

Relative Volatility rose ( with stronger prices - a very good sign ) and
Counter Trend is turning to a less positive behavior for Apple Shares and
Correlation are not into the critical zone ( from +0.10 to +0.10 ).

Those risks factors are less bullish compare to the last session.

Now back to technicals:

Starting to trade below $583.80 will mean to me extreme technical weakness...
Starting to trade AND stay above $601.20 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $601.20 will give us another
bullish push scenario and direct go towards $604.60
max $607.30 for now in the next few sessions.

Need to stay above on a daily close $583.80 to iAm still Bullish ...

A daily close below $601.20 but above $583.80 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $583.80 will mean for me a risk of another gap down
towards $577.50 max $571.90 for now.

Apple shares Outperformed the SP500 on April 28 (2nd chart below).

Expect a day trading range between $590 - $601 with above average volatility.

Support : $590.10 and $586.60 Resistance : $601.20 and $604.60

Apr 28 All Aboard ?

With SP500 more stable this morning and most of the rebalancing and
Counter Trend Mostly Done on last Friday, I think that it will be a lot more
difficult at this point for Apple Shares to continue to perform like that.

So the Bulls need absolutely to break AND close above the $575.10 today.
Failing to do so can bring a consolidation phase this week. Already, starting
to trade below $567.70 will be the first sign of the consolidation phase...

Take note that working with extended technical levels, it is less precise
than real historical trading data...

Relative Volatility fell ( with stronger prices - a good sign ) and
Counter Trend is turning to a less positive behavior for Apple Shares and
Correlation are not into the critical zone ( from +0.59 to +0.10 ).

Those risks factors are less bullish compare to the last session.

Now back to technicals:

Starting to trade below $560.70 will mean to me extreme technical weakness...
Starting to trade AND stay above $577.60 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $575.10 will give us another
bullish push scenario and direct go towards $580.60
max $583.20 for now in the next few sessions.

Need to stay above on a daily close $567.70 to iAm still Bullish ...

A daily close below $575.10 but above $567.70 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $567.70 will mean for me a risk of another gap down
towards $564.10 max $560.70 for now.

Apple shares Outperformed the SP500 on April 25 (2nd chart below).

Expect a day trading range between $567 - $577 with above average volatility.

Support : $567.70 and $564.10 Resistance : $575.10 and $577.60

Apr 25 Yesterday I thought that finally with all those good news on Apple, the stock
should at least test the $575.10 level; it didn t, a huge technical deception...

So today I expect a consolidation wave with lower prices - $558.40
MAX $554.80. Already starting to trade below $560.70 will be the first sign
for that scenario to unfold......

Take note that working with extended technical levels, it is less precise
than real historical trading data...

Relative Volatility fell ( with stronger prices - a good sign ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.70 to +0.59 ).

Those risks factors are less bullish compare to the last session.
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark. WE REACHED THAT MARK.

Now back to technicals:

Starting to trade below $554.80 will mean to me extreme technical weakness...
Starting to trade AND stay above $570.00 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $570.00 will give us another
bullish push scenario and direct go towards $575.10
max $582.90 for now in the next few sessions.

Need to stay above on a daily close $560.70 to iAm still Bullish ...

A daily close below $570.00 but above $560.70 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $560.70 will mean for me a risk of another gap down
towards $558.40 max $554.80 for now.

Apple shares Outperformed the SP500 on April 24 (2nd chart below).

Expect a day trading range between $558 - $568 with above average volatility.

Support : $560.70 and $558.40 Resistance : $567.70 and $570.00

Apr 24 Houston, we had a Lift Off ?

We had very good financial results from Apple Yesterday.

Take note that working with extended technical levels, it is less precise
than real historical trading data...

Relative Volatility rose ( with weaker prices - a good sign ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.72 to +0.70 ).

Those risks factors are less bullish compare to the last two previous sessions .
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark. WE REACHED THAT MARK.

Now back to technicals:

Starting to trade below $554.70 will mean to me extreme technical weakness...
Starting to trade AND stay above $575.10 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $575.10 will give us another
bullish push scenario and direct go towards $582.90
max $594.60 for now in the next few sessions.

Need to stay above on a daily close $554.70 to iAm still Bullish ...

A daily close below $575.10 but above $554.70 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $554.70 will mean for me a risk of another gap down
towards $549.00 max $543.50 for now.

Apple shares Underperformed the SP500 on April 23 (2nd chart below).

Expect a day trading range between $555 - $575 with above average volatility.

Support : $558.30 and $554.70 Resistance : $567.70 and $575.10

Apr 23 D-Day on ER ?

We are now on Day-Day for ER ( Earnings Release ). Usually, IF history repeat
itself, we should have a corrective Wednesday in Price.
See APPLE Technicals Behavior - Counter Trend and ER ?

So according to price history behavior near ER, we saw last Monday as the
short term top ( $532.14 ) for Apple Shares.

Relative Volatility fell ( with stronger prices - a good sign ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.65 to +0.72 ).

Those risks factors are less bullish compare to the last two previous sessions .
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark. WE REACHED THAT MARK.

Starting to trade below $526.50 will tell me that the up wave before ER is over.

Now back to technicals:

Starting to trade below $526.50 will mean to me extreme technical weakness...
Starting to trade AND stay above $535.80 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $535.80 will give us another
bullish push scenario and direct go towards $540.10
max $543.50 for now in the next few sessions.

Need to stay above on a daily close $526.50 to iAm still Bullish ...

A daily close below $535.80 but above $526.50 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $526.50 will mean for me a risk of another gap down
towards $523.20 max $519.20 for now.

Apple shares Underperformed the SP500 on April 22 (2nd chart below).

Expect a day trading range between $525 - $535 with average volatility.
AFTER ER : Expect $493 - $575

Support : $526.50 and $523.20 Resistance : $535.80 and $540.10

AFTER ER:
Support : $517.10 and $511.30 and $ $493.50 Resistance : $549.00 and $560.20 and $575.10

Apr 22 ER Behavior ?

Yesterday I wrote:
We are now very close of ER ( Earnings Release ). Usually, IF history repeat
itself, we should have a Bullish Monday followed by a corrective Tuesday
and Wednesday. See APPLE Technicals Behavior - Counter Trend and ER ?

So according to price history behavior near ER, we saw yesterday or we will
see this morning the short term top for Apple Shares.

Relative Volatility rose ( with stronger prices - a good sign ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.55 to +0.65 ).

Those risks factors are less bullish compare to the last two previous sessions .
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark. WE REACHED THAT MARK.

Starting to trade below $525.80 will tell me that the up wave before ER is over.

Now back to technicals:

Starting to trade below $522.40 will mean to me extreme technical weakness...
Starting to trade AND stay above $535.10 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $535.10 will give us another
bullish push scenario and direct go towards $538.90
max $543.50 for now in the next few sessions.

Need to stay above on a daily close $525.80 to iAm still Bullish ...

A daily close below $535.10 but above $525.80 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $525.80 will mean for me a risk of another gap down
towards $522.40 max $519.10 for now.

Apple shares Outperformed the SP500 on April 21 (2nd chart below).

Expect a day trading range between $525 - $535 with average volatility.

Support : $525.80 and $522.40 Resistance : $531.30 and $535.10

Apr 21 ER Fever ?

On April 17 I wrote:
We need to break the $520.40 level on a short term basis to finally get
out of the mud zone. A daily close above that level will confirm a new
bull trend.

Relative Volatility rose ( with stronger prices - a good sign ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.51 to +0.55 ).

Those risks factors are more bullish compare to the last two previous sessions .
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark. WE REACHED THAT MARK.

We are now very close of ER ( Earnings Release ). Usually, IF history repeat
itself, we should have a Bullish Monday followed by a corrective Tuesday
and Wednesday.

Being able to clear and stay above $522.80 will be quite bullish for Apple
Shares. Starting to trade below will tell me that the up wave before ER is over.

Now back to technicals:

Starting to trade below $519.90 will mean to me extreme technical weakness...
Starting to trade AND stay above $530.80 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $527.80 will give us another
bullish push scenario and direct go towards $530.80
max $531.30 for now in the next few sessions.

Need to stay above on a daily close $522.80 to iAm still Bullish ...

A daily close below $527.80 but above $522.80 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $522.80 will mean for me a risk of another gap down
towards $519.90 max $517.10 for now.

Apple shares Outperformed the SP500 on April 17 (2nd chart below).

Expect a day trading range between $522 - $531 with average volatility.

Support : $522.80 and $519.90 Resistance : $527.80 and $530.80

Apr 17 Stuck in the Mud ?

Yesterday we had finally some signs of a counter trend: switching from
SP500 towards Apple Shares. I think that will continue.
We need to break the $520.40 level on a short term basis to finally get
out of the mud zone. A daily close above that level will confirm a new
bull trend.

Relative Volatility rose ( with stronger prices - a good sign ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.76 to +0.51 ).

Those risks factors are more bullish compare to the last two previous sessions .
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark. WE REACHED THAT MARK.

Being able to clear and stay above $520.40 will be quite bullish for Apple
Shares. For that scenario to unfold, we must not trade below $511.30 anymore...

Now back to technicals:

Starting to trade below $514.10 will mean to me extreme technical weakness...
Starting to trade AND stay above $520.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $520.40 will give us another
bullish push scenario and direct go towards $524.80
max $526.10 for now in the next few sessions.

Need to have a daily close above $520.40 to iTurn Bullish ...

A daily close below $520.40 but above $514.10 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions.

A daily close below $514.10 will mean for me a risk of another gap down
towards $511.30 max $509.90 for now.

Apple shares Underperformed the SP500 on April 16 (2nd chart below).

Expect a day trading range between $511 - $522 with average volatility.

Support : $514.10 and $511.30 Resistance : $520.40 and $521.90

Apr 16 Captitulation my Dear?

Yesterday we had finally a strong pattern of capitulation. We did retest
the low of Novembwe 2013 at $512.38 ( it trade $511.33 ) and we rebounded
violently from that level. Then it became a stronger technical pattern.
That I was expecting in the two previous sessions. Now, weak hands are
cleared and Apple Shares can start from a solid footing...

Relative Volatility fell ( with weaker prices - another capitulation sign ) and
Counter Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.91 to +0.76 ).

Those risks factors are more bullish compare to the last two previous sessions .
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark. WE ARE NEAR THAT MARK.

Being able to clear and stay above $524.30 will be quite bullish for Apple
Shares. For that scenario to unfold, we must not trade below $515.60 anymore...

Now back to technicals:

Starting to trade below $515.60 will mean to me extreme technical weakness...
Starting to trade AND stay above $524.30 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $524.30 will give us another
bullish push scenario and direct go towards $526.10
max $530.30 for now in the next few sessions.

Need to have a daily close above $524.30 to iTurn Bullish ...

A daily close below $524.30 but above $515.60 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions.

A daily close below $515.60 will mean for me a risk of another gap down
towards $512.40 max $511.30 for now.

Apple shares Underperformed the SP500 on April 15 (2nd chart below).

Expect a day trading range between $515 - $524 with average volatility.

Support : $517.10 and $515.60 Resistance : $521.90 and $524.30

Apr 15 D Day for Apple Shares

Yesterday we had a weak pattern of capitulation. We did retest almost
the low of April 11 at $517.14 ( it trade $517.21 ) and we rebounded
from that level. I had like to see a lower low ( kind of $515.60 ) and
rebound from there. It will be a more stronger technical pattern.

Relative Volatility rose ( with stronger prices - a good sign ) and Counter
Trend is turning to a more positive behavior for Apple Shares and
Correlation are now into the critical zone ( from +0.94 to +0.91 ).

Those risks factors are slighlty bullish compare to last week.
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark.

I think that today is D Day for Apple Shares. Being able to clear and stay
above $523.80 will be quite bullish for Apple Shares. For that scenario to
unfold, we must not trade below $517.10 anymore...

Now back to technicals:

Starting to trade below $517.10 will mean to me extreme technical weakness...
Starting to trade AND stay above $523.80 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $523.80 will give us another
bullish push scenario and direct go towards $526.10
max $529.60 for now in the next few sessions.

Need to have a daily close above $523.80 to iTurn Bullish ...

A daily close below $523.80 but above $517.10 will mean for me that we are
into a consolidation pattern trade scenario for a few sessions.

A daily close below $517.10 will mean for me a risk of another gap down
towards $512.40 max $510.40 for now.

Apple shares Underperformed the SP500 on April 14 (2nd chart below).

Expect a day trading range between $518 - $526 with average volatility.

Support : $517.10 and $515.60 Resistance : $523.80 and $526.10

Apr 14 Near Turnaround ?

Last Friday I wrote:
A daily close below $521.90 will mean for me a risk of another gap down
towards $518.70 max $515.60 for now.

Relative Volatility fell ( with lower prices - a bad sign - Read Research )
and Counter Trend is turning to a more positive behavior for Apple Shares
and Correlation are now into the critical zone ( from +0.94 to +0.94 ).
( Read Correlation Research ).

Those risks factors are slighlty bullish compare to last week.
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark.

I think we can have today the final wave of capitulation phase of the market
and/or a daily close above $523.40.
My capitulation level for Apple Shares is $512.38 to $515.60 zone.
That should be the turnaround sign for Apple Shares...

Now back to technicals:

Starting to trade below $512.40 will mean to me extreme technical weakness...
Starting to trade AND stay above $523.40 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $523.40 will give us another
bullish push scenario and direct go towards $526.10
max $529.60 for now in the next few sessions.

Need to have a daily close above $523.40 to iTurn Bullish ...

A daily close below $523.40 but above $515.60 will mean for me that we are
into a correction pattern trade scenario for a few sessions.

A daily close below $515.60 will mean for me a risk of another gap down
towards $512.40 max $510.40 for now.

Apple shares Outperformed the SP500 on April 11 (2nd chart below).

Expect a day trading range between $513 - $525 with average volatility.

Support : $515.60 and $512.40 Resistance : $523.40 and $526.10

Apr 11 Wave 2 ?

Yesterday I wrote:
Today is a lot more tricky; for me , we must stay above the 50 DMA now at
$528.71 to continue the bullish phase. And we did not...

Relative Volatility fell ( with lower prices - a bad sign ) and Counter
Trend is turning to a more positive behavior for Apple Shares and Correlation
are now into the critical zone ( from +0.97 to +0.94 ).

Those risks factors are slighlty bearish compare to yesterday.
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark.

I think we can have today the wave 2 of capitulation phase of the market.
My capitulation level for Apple Shares is $515.60 zone.

Now back to technicals:

Starting to trade below $518.70 will mean to me extreme technical weakness...
Starting to trade AND stay above $529.20 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $529.20 will give us another
bullish push scenario and direct go towards $533.30
max $537.40 for now in the next few sessions.

Need to have a daily close above $529.20 to iTurn Bullish ...

A daily close below $529.20 but above $521.90 will mean for me that we are
into a correction pattern trade scenario for a few sessions.

A daily close below $521.90 will mean for me a risk of another gap down
towards $518.70 max $515.60 for now.

Apple shares Outperformed the SP500 on April 10 (2nd chart below).

Expect a day trading range between $518 - $527 with average volatility.

Support : $518.70 and $515.60 Resistance : $526.10 and $529.20

Apr 10 Tricky Follow Through ?

Yesterday we had the expected dead cat bounce towards the 50 DMA then
at $528.24 and we did have a close above, a very good sign indeed.

Today is a lot more tricky; for me , we must stay above the 50 DMA now at
$528.71 to continue the bullish phase. Being able to trade today and break
the 20 DMA ( at $533.67 ) will give another bullish impulse.

Also, Relative Volatility rose ( with higher prices - a good sig ) and Counter
Trend is turning to a more positive behavior for Apple Shares and Correlation
are now into the critical zone ( from +0.97 to +0.97 ).

Those risks factors are neutral compare to yesterday.
Correlation risk is putting Apple Shares still on a slippage risk when back
below the 0.75 mark.

Now back to technicals:

Starting to trade below $526.10 will mean to me extreme technical weakness...
Starting to trade AND stay above $533.70 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $533.70 will give us another
bullish push scenario and direct go towards $537.40
max $540.00 for now in the next few sessions.

Need to have a daily close above $528.70 to iContinue a Bullish Trend...

A daily close below $533.70 but above $528.70 will mean for me that we are
into a bullish pattern trade scenario for a few sessions.

A daily close below $528.70 will mean for me a risk of another gap down
towards $526.10 max $521.90 for now.

Apple shares Outperformed the SP500 on April 9 (2nd chart below).

Expect a day trading range between $526 - $535 with average volatility.

Support : $528.70 and $526.10 Resistance : $533.70 and $537.40

Apr 9 Dead Cat Bounce ?

Yesterday we saw twoTechnical factors quite interesting: a test of the
50 DMA on the SP500 and almost a capitulation phase for Apple Shares

Also, Relative Volatility rose ( with lower prices - a bad omen ) and Counter
Trend is turning to a more positive behavior for Apple Shares and Correlation
are now into the critical zone ( from +0.88 to +0.97 ).

Those risks factors are slightly less bullish than yesterday.
Correlation risk is putting Apple Shares still on a slippage risk.

I think today we will have a dead cat bounce and a test of the 50 DMA
at $528.24 MAX the 20 DMA at $533.98. A closing above the 50 DMA will
give another impulse in the next few sessions...

Now back to technicals:

Starting to trade below $518.70 will mean to me extreme technical weakness...
Starting to trade AND stay above $528.20 will mean to me technical strenght...

The ride will be an above average volatility pattern kind of price action.

Starting to trade and/or a daily close above $528.20 will give us another
bullish push scenario and direct go towards $534.00
max $537.20 for now in the next few sessions.

Need to have a daily close above $528.20 to shift towards a Bull Trend...

A daily close below $528.20 but above $518.70 will mean for me that we are
into a consolidation mode trade scenario for a few sessions.

A daily close below $518.70 will mean for me a risk of another gap down
towards $515.60 max $512.00 for now.

Apple shares Underperformed the SP500 on April 8 (2nd chart below).

Expect a day trading range between $522 - $531 with average volatility.

Support : $521.90 and $518.70 Resistance : $528.80 and $530.90

AAPL Stock Price Daily ( Daily Candle Chart )

AAPL Relative Volatility ( Candle Chart )
7 DMA ( Yellow Line )

AAPL Stock Price Daily ( Weekly Candle Chart )