Saturday, May 17, 2008 7:28:11 PM
TJ
AAPL
has a cool looking chart at this point. A very powerful move from the lows. IMO it has formed a beautiful cup and now needs to work on the handle.
If my read on the market works out and we get a decent correction straight ahead, say where we correct .50 to .618 of this run out of the March lows. The correction probably will start this week, may be even Mon but probably not for earnest until Wed. or Thurs.
AAPl should create a handle by trading sideways in a horizontal channel roughly between 175-200.
If that played out and it has to be a big if, since it hasn't even formed the handle yet, the breakout would have a measured move to 280-300. Something to keep in the back of one's mind as we move forward here.
At this point 50 does not look in the cards.
AAPL
has a cool looking chart at this point. A very powerful move from the lows. IMO it has formed a beautiful cup and now needs to work on the handle.
If my read on the market works out and we get a decent correction straight ahead, say where we correct .50 to .618 of this run out of the March lows. The correction probably will start this week, may be even Mon but probably not for earnest until Wed. or Thurs.
AAPl should create a handle by trading sideways in a horizontal channel roughly between 175-200.
If that played out and it has to be a big if, since it hasn't even formed the handle yet, the breakout would have a measured move to 280-300. Something to keep in the back of one's mind as we move forward here.
At this point 50 does not look in the cards.
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