Posted by: stockscooter | April 19, 2012

Apple Repeating Pattern

Simply compare the end of the 2007 rally with today.  It’s looking eerily familiar on the indicator, as well as the price pattern itself.  Could it go to new highs like it did last time, before it dumps big time?  Anything is possible, just not very probable.

Also, take a look at the weekly chart of PCLN (below), Priceline.  Does this look familiar?  These stocks, leading the past broad market advance, are extended, have started selling-off, and are preparing for a rebound rally for a few weeks, which could be up or sideways, before further selling ensues.  Eventually, the long-term technical buying/selling patterns will bring them back down to earth, as the last chart of PCLN (monthly) indicates.  Careful…..don’t get head faked!  These markets are suspect.

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