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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	6/2/2012 1:44:06 PM
	4 Recommendations Read Replies (1) of 209892

AAPL….Feature of the week was the break above the major DT line from the ATH, confirming a trend reversal to the upside.. The extent of the upside breakout more than met requirements, and was accompanied by some of the necessary expansion of volume…although not overwhelmingly so… The return to the breakout point on Fri is not unusual, but, in any event, must be viewed in some relation to the unusually steep pullback in the SPX broad market. AAPL has continued to show relative strength and outperform the SPX.. As you know from my EW count, I am expecting new SPX lows ahead, and it would seem unlikely that AAPL can be able to completely buck that…Perhaps..hopefully.. AAPL may be able to gain relatively more during the ((iv)) wave up immediately ahead than it may lose during the next ((v)) down.... Finally, should note that the possible bullish pennant I've mentioned has not materialized, but is still a viable possibility..

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