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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	1/20/2013 11:15:24 AM
	4 Recommendations Read Replies (1) of 209892

AAPL….New low again last week, and sharply diverging from the strong broad market SPX… Dominated by the unbroken downtrend from the Sept ATH…and now appearing to have completed 2 bearish patterns: ….A bearish flag from mid-Dec, measuring to about 442ish.. ….A bearish descending triangle from late Nov, measuring to 430ish.. The monthly chart shows next support of any significance at the 2011 chart congestion area around 425ish and at the long-term uptrend from the 2003 and 2009 lows which, in the week ahead, would be in the 440ish area.. Of some note: the 2007-2009 pullback was on the order of 62%; the current pullback, to date, is on the order of 40%… Worth repeating: *Caveat emptor !!*

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