Forbidden Fruit:

The largest company on planet Earth is at an inflection point. Earlier this month it found a bit of support at the 61.8% Fibonacci retracement from the mid-June low to the mid-August high. That was during a 7-of-8-week winning streak but the stock even with that impressive move made a third lower high. The third lower high was a WEEKLY bearish gravestone doji candle from the week ending 8/19. Each of the last 2 weeks CLOSED firmly upon their lows and well off their intraweek highs with the week ending 9/16 fourteen handles off its peak and last week by 8 points. We all know just how influential AAPL can be with its dominance in the major benchmarks and a plethora of ETFs and mutual funds. It could possibly finish with its third consecutive WEEKLY CLOSE with a 150 number, and we know from that type of taut action comes explosive moves. Consider the 148 area an absolute must to hold or the latest selling would pale in comparison to what may be.

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