Friday, January 17, 2014

AAPL continues to show weakeness in conjunction with a worrisome stock graph.

Ending diagonal has finished 5 waves up with throwover on the 5th wave.  Then a bounce to center channel and failed test from below.  Then a break through center channel and test the lower channel successfully but cannot break back through center channel again (at least not yet).  The battleground is within the red oblong.  If the shares break down through the lower channel and then fail the back test from below as I think they will, then the next step will be a big time down draft.  Look at the way BBY got taken out back and literally shot, just like in the bad old days.  Well, people are looking at that and they are getting worried about being the last one holding the worthless paper bag of stocks.  If AAPL didn't teach you about the worthlessness of stocks, nothing will.  Nothing of real value can plunge that far that fast.  Talk about hot air.  Those shares are now broken.

AAPL needs a big move up in order to re-pump the Ponzi primer but I think it is up against serious resistance.  No way would I risk owning these shares right now.

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