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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (3872)	1/14/2005 3:08:10 PM
From: sandintoes	Respond to of 8752

You're on the right thread for advice...IMHO...you have two of the best right here.

To: Jill who wrote (3872)	1/14/2005 6:27:04 PM
From: Vendit™	Read Replies (1) \| Respond to of 8752

Jill, AAPL is showing many more positive technical signals that it will continue its up-trend than negative. Today it tested support and closed above $70.00 for the second day in a row. Many technicians believe that support must be tested twice before it becomes true support. themarketwind.com Short term stochastic oscillator lines still have a rather steep upward slope will plenty of room to move up which means the cycle is still young and bullish. Williams’s %R is mildly bending. I can look at the daily candlestick which is a spinning top with a slightly longer upper shadow and account for this bending, plus its Friday prior to a long three day weekend when many traders exit the market. The negative that I see very short term is that today’s session low is slightly lower than yesterday’s. It can be said that it is a beginning of a top but not yet confirmed. Next there is the matter of the large lower gap painted in yellow. Gap theory states that gaps eventually get filled. That would mean that AAPL would have to dip to about $66 before it could continue it’s trend; however I have witnessed many bull runs where large gaps have gone months before lower gaps were filled. themarketwind.com (same chart) These are just some things to consider. Tuesday will tell if the market holds strong. A weak market may cause the gap to fill. Reid