AAPL is Warning of a Classic Market Top

By: readtheticker | Thu, Jan 12, 2012
Print Email

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.

Previous Post on AAPL: Wyckoff 2.0 for the 21 first century

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.

The chart..

AAPL Apple Inc
Larger Image

 


 

readtheticker

Author: readtheticker

readtheticker
www.readtheticker.com/
www.readtheticker.com/Pages/Blog1.aspx

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online stock and index charts with commentary. We are not brokers, bankers, financial planners, hedge fund traders or investment advisors, we are private investors.

LEGAL DISCLAIMER: The material is presented for educational purposes only and may contain errors or omissions and are subject to change without notice. Readtheticker.com (or 'RTT') members and or associates are NOT responsible for any actions you may take on any comments, advice,annotations or advertisement presented in this content. This material is not presented to be a recommendation to buy or sell any financial instrument (including but not limited to stocks, forex, options, bonds or futures, on any exchange in the world) or as 'investment advice'. Readtheticker.com members may have a position in any company or security mentioned herein.

Copyright © 2011-2014 readtheticker.com

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com

SEARCH





TRUE MONEY SUPPLY

Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/