Ripe Fruit?

The largest company on the planet has been in the news recently for a couple different reasons. Headlines in December include it becoming the first trillion dollar company on 12/14, which happened to coincide with the very round 200 number and the very next day a doji candle was recorded (which are adept at signaling potential changes in the prevailing direction). And the possible magazine cover “curse” could be in store with this weekends Barron’s cover story. For me all that is just noise, and PRICE action is omnipotent. Next week in my opinion will be a persuaive one as it retests the double bottom with handle breakout trigger. It is normal for breakouts to retest to see the validity of the move, but one wants to see this distance itself from the 193.03 pivot quickly. Last week fell 2% ending a 7 week win streak, relative weakness as the XLK eked out a gain. Bears will declare double top on the WEEKLY chart with the gravestone doji the candle the week ending 7/21, but the bulls will say the 3 week tight pattern with the 3 weeks ending between 11/17-12/1 all CLOSING within just 1.55 of each other has legs. PRICE is the only one wo knows and ignore it at your own peril. 

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