FINANCIAL ICEBERG
Always consider hidden risks
​
 TECHNICALS
SPY ETF/Apple Shares:  A Tale of Two Wedges?
​May 31 2016 ( From TradingView, CNN Money  )
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The Situation
​
​​​The market participants never gave attention to that twoWedges
technical pattern on a weekly basis on SP500 Index (SPY ETF) and
Apple Shares​.
​
​​In the case SPY ETF, we are within a Weekly Rising Wedge that 
started back since August 18 2015.​
​​ ​(See First Chart Below - Thick Red TrendLines)​

In the case of Apple Shares, ​we are within a Weekly Falling Wedge that
​started back since October 13 2014.
​​(See Second Chart Below - Thick Red TrendLines)​ 
​ 
The SPY ETF is making on a weekly basis higher lows but not higher
highs yet but quite near a Breakout.​
​​​ ​(See First Chart Below - Top Thick Red TrendLine - Ellipse)​

Also interesting to note​​ the Fear and Greed Index from CNN Money 
​as of May 27 is now at the Extreme Greed Level of 78.

And few of us realize that in fact, Apple Shares are under performing tremendously the SPY ETF on a relative basis (ratio of AAPL vs SPY ETF - Daily Chart) since April 14 2016 when it reached the resistance trendline of a downtrend channel and broke soon thereafter the major support trendline that started back since June 28 2013! ​(See Third Chart Below - Red TrendLine - Ellipse) The Buffet move since May 12 is only a dead cat bounce.





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"To fight and conquer in all your battles is
not supreme excellence; supreme excellence consists in breaking the enemy's
resistance without fighting."
​
-Sun Tzu, the Art of War



SPY ETF/Apple Shares:  A Tale of Two Wedges? $SPY, $AAPL  #Trading #investing #aapl #SP500



SP500 Index 
​(SPY ETF - Weekly Candles)











Financialiceberg.Com



Daily Ratio
Apple Shares ( AAPL )
over
SP500 Index ( SPY ETF )​​
​​20 DMA ( Yellow Line )
50 DMA ( Red Line )​​
200 DMA ( Green Line )​


Financialiceberg.com


Apple Shares 
​(AAPL - Weekly Candles)



Financialiceberg.com