Tomorrow's open will break the 38 barrier. 39 1/2 will be the next Waterloo.
Hi HerbVic.
I think we are there now, because we are at the intermediate term trendline from the recent peak at 43 3/4. A significant breakout tomorrow, especially on high volume, should be very positive.
Nevertheless, we still have the low MaxPain Analysis (probably around 30), and not much tax loss potential (meaning some will probably sell next week when the profits will fall into 1999).
Therefore, I wouldn't be surprised to see the following:
This week: a rally, perhaps to near 40.
Next week: a pullback, perhaps to test the breakout from around 36 (the shortterm trendline breakout with a breakaway gap today [depends on whether the stock is inclined to fill the gap shortterm]}.
The following week: The typical MWSF runup, perhaps again to 40 or beyond.
Depending on what Jobs says about earnings at MWSF: some test of the Maxpain Analysis concept (I think that we don't know whether investors are opening covered positions that would negate some of this effect) until earnings and options expiration, followed by a late rally into the Superbowl advertising campaign.
I know, this is a detailed bunch of BS, but it sort of seems plausible based on all that is discussed on this thread.
The following graph suggests that once we break above the 38-43 level, we are off to the races, with little resistance until the 50 to 60 range.
bigcharts.com
Good luck,
Sam |
