Posted by: stockscooter | July 10, 2012

Apple Update

Back in April I said, “The low risk short was hugely successful, but now “low risk” isn’t so much the case.”  You can now see, with 20/20 vision why I made that statement.    My proprietary first-to-turn indicator, shown with a yellow circle, has bottomed and turned the corner upward.  Trend, based upon these other 3  indicators have not broken down.  This indicates that this was only a correction, not the start to the real bear.

Candlestick formations (blue circle) have shown buying pressure based upon the shadows under the real bodies each month.   That why prices pushed higher this month.  Currently, prices indicate upward advancement, so new highs should be expected.  Where this monster tops is anybody’s guess.  But what else is there to buy?  The next thing we need to see for this advancement to be real, is for volume to increase, while my first-to-turn indicator (yellow circle) stays green.  Volume needs to exceed 280 million this month or next.  Since July 4th, the daily volume HAS picked-up. Let’s keep an eye on this increasing volume and see if it can break the $618 overhead resistance simultaneously.

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