AI
Saturday, December 08, 2007 9:37:46 AM
AAPL shows negative divergence at major resistance.
AAPL closed at 194.30 above the 192, 11/06/07 high.
After examining the AAPL LT price actions, I made a mistake on 25yr LT TL breakout, it is the " 20yr LT TL" breakout; however, as shown on the LT chart, we have 15yr TL resistance near at 200.
After having parabolic moves since Aug 2004 LT breakout, I think that it needs to show a significant correction.
Right after we had Katrina, markets are showing huge bubbles, such as we can see on AAPL, Aug 2005 breakout which is the 2nd LT breakout. The same parabolic moves can be seen in metals such as Gold.
During Oct 2007, I have stated that I am not bullish in 2008. Since then, we are seeing more evidences of bearish news that we are in a mountain of debts with credit problems. I think that we need to deal with the problems now and avoiding the issues or pretending that we are still all right in bull market is self-deceiving.
AAPL is a main driver of major markets. Breaking out AAPL at this point to show major markets in bullish appearance is hypocritical as many stocks are continuing to bleed in downtrend.
It is about time for us to sober up. Bubbling up AAPL is not a way to deal with the real issues.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=25137723
AAPL closed at 194.30 above the 192, 11/06/07 high.
After examining the AAPL LT price actions, I made a mistake on 25yr LT TL breakout, it is the " 20yr LT TL" breakout; however, as shown on the LT chart, we have 15yr TL resistance near at 200.
After having parabolic moves since Aug 2004 LT breakout, I think that it needs to show a significant correction.
Right after we had Katrina, markets are showing huge bubbles, such as we can see on AAPL, Aug 2005 breakout which is the 2nd LT breakout. The same parabolic moves can be seen in metals such as Gold.
During Oct 2007, I have stated that I am not bullish in 2008. Since then, we are seeing more evidences of bearish news that we are in a mountain of debts with credit problems. I think that we need to deal with the problems now and avoiding the issues or pretending that we are still all right in bull market is self-deceiving.
AAPL is a main driver of major markets. Breaking out AAPL at this point to show major markets in bullish appearance is hypocritical as many stocks are continuing to bleed in downtrend.
It is about time for us to sober up. Bubbling up AAPL is not a way to deal with the real issues.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=25137723
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