Apple Crisp:
It is mid-afternoon as I write this note for Friday’s session and with AAPL reporting after the close my prediction of a sell-off could burn me (I am not involved, just a prediction), hence the “crisp”. The implied move of 3% up or down in my opinion will be lower and that would shake out some of the weak holders and potentially create a new double-bottom pattern, and notice the last one that broke above a 182.20 pivot worked ok as it ran to the very round 200 number. Thursday put an end to the 6-session losing streak recording a bullish piercing line candle, but perhaps someone knows something with that prior softness before today. Compared to peer MSFT it is losing distance from the $3T market cap and is now firmly underneath Mr. Softee’s. Regardless of how one feels about the name and it’s losing its innovative history of the past this stock still carries a lot of weight and bulls want to see this perform. Its MONTHLY chart suggests this could be topping at the 200 area with two consecutive spinning top candles the last 2 months and another spinning top and hanging man last July and August.