Replies to post #114347 on ajtj99's Market Pulse

[RCKS]

y2kate
Not to speak for aj but I think his read is tied in part to where he sees the markets going in general but he or someone recently posted a chart of aapl that shows a large wedge or ending diagonal and 50 was the last low when that took off.
Its a TA read to say it will correct to its origination point.
I think you also may have seen tea's charts on aapl, the one Henry got so upset with, that called this drop we just got in Dec.
aj has the markets descending this year a great deal more, this was the first leg and this correction or leg up started today is not likely to travel too far above 1400-1420 before we start down again.
Now if you listen to Henry on SI, he continues to take a very bullish view of the markets in general and aapl especially.
I think this is the hardest part of trading to get right and that is to discern turning points or trend changes and when they are underway arguments on both sides make sense. Its only after the fact that its easy to get it right, vbg.
This wasn't much help I'm sure but aj will reply as well.
It sounds like you may have held aapl as we dropped and hopefully you are not too underwater. good luck.

[hiker]

y2kate, here's teaparty's AAPL read:

http://siliconinvestor.advfn.com/readmsg.aspx?msgid=24118347

[RCKS]

y2kate
Here is the chart of aapl weekly which is why aj sees it going to 50.

[ajtj99]

y2kate, since I anticipate the major indices will re-trace 61.8% of the rise since the 2002 lows, it stands to reason major stocks should do the same.

AAPL has support at $50, and that seems a better landing zone than the .618 re-trace at $76.