TECHNICAL ANALYSIS: This market has been on a tear lately.. $AAPL has been pumping solid for more than a month. Open up the 4hr & daily.. this pump is looking to take a sharp decline out of this diagonal pattern, especially after producing a new high today. Not only are we at massive supply, but money momentum has peaked.. and this is the third time in this red band.. showing significant divergence. Although our middle green band is showing bull market, we recently got a bearish-key cross over, and big rejection off our upper regression indicator. This is a great time to catch this at the top and ride back down.
We are at a major (but necessary) corrective wave on $AAPL , and I will be loading up positions waiting for a drop back to the lower 160’s, potentially lower if price respects Fib retracement.
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