The much loved stock Apple Computers Inc is owned by everyone and is a market
leader in price and capitalization. However classic pattern analysis (see book
by Edwards and Magee) suggest not all is hot with this stock and therefore
the general market.
Classic market tops are heavy with distribution, smart money selling to the
dumb money. Distribution patterns that reverse are abnormally wide ranging
and volatile. The latest price pattern in AAPL fits this category. Of course
the mighty AAPL stock could shoot higher, but with each push higher has seen
each sideways distribution patterns (that turn into re accumulation patterns)
get wider and wider. This is not a healthy price advance, in the end a break
of the long running and winning 1x2 Gann Angle will confirm a AAPL top and
most likely a market top. Watch this space.
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