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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	6/23/2012 9:40:20 PM
	4 Recommendations Read Replies (1) of 209892

AAPL…..Extending in the past 2 weeks a sideways consolidation between about 570 and 590, some 10-15% above the May low... possibly due to the R area stemming from the still falling 50dMA… Last week saw a break above the 3rd DT from the ATH, which activated the "fan principle"…indicating that the May low completed a major intermediate low. The week began with what appeared to be the completion of a small bullish pennant, but that did not follow through as expected, and may now be forming part of a possible larger bullish pennant during the past 2 weeks… On balance, signs of a major trend reversal to the upside remain in place…with next R areas around 600 and 625..

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