04/16/2012 Live Update

[uempel]

Market is trying again and again to break 1374...

Bulls are weak today...

[stucap]

This is a good gap down set up. I can smell it.

bulls look pretty good here.......retesting the breakout now. green close? higher low in place? low risk long overnight with a stop at today's low? plenty of traders will take that risk/reward.

daily are showing a bear flag. I got after noon update on my blog.

i'll trade that when it breaks (hopefully it will)

[Kos]

I am watching APPLE to test 40 MA at around 578 by tomorrow, That should be a strong support to shoot the stock above 600 again

[BullBear52x]

I know it's OEX relate volatility, see them here not yet gone bullish.

[proteus46]

Tuesday morning may be one more "weak-hand-flush", then I like AAPL after that.

[Cobra]

the feeling is go like this.

[TraderGirl]

aapl

[BullBear52x]

Thanks Cobra and everyone, GLTA

TA note: Bears want to see a closed below 137.05. bulls last stand on the trend line.

[Ed02]

Thanks Cobra and everyone, GLTA

TA note: Bears want to see a closed below 137.05. bulls last stand on the trend line.

BB, what if close above 137.05 then? Will the rebound start?

[Cobra]

bulls hope is a small double bottom here. overall, I still think we'll see a rebound before the close because the pullback we just had was not strong (3 push down?).

[BullBear52x]

Thanks Cobra and everyone, GLTA

TA note: Bears want to see a closed below 137.05. bulls last stand on the trend line.

BB, what if close above 137.05 then? Will the rebound start?

high probability, see MACD hist. bar on daily if not close lower then day before dip buyers are still en mass. got to go GL.

[rockfish]

Hey Cobra - are you hanging onto the SDS position that was initiated in Cobra Impulse??

[Ed02]

Thanks Cobra and everyone, GLTA

TA note: Bears want to see a closed below 137.05. bulls last stand on the trend line.

BB, what if close above 137.05 then? Will the rebound start?

high probability, see MACD hist. bar on daily if not close lower then day before dip buyers are still en mass. got to go GL.

Thanks very much!

[Cobra]

Hey Cobra - are you hanging onto the SDS position that was initiated in Cobra Impulse??

Cannot answer here.

It's mechanical system so, check Friday's trading signals, if it's triggered then it's triggered, otherwise it's not.

[Petsamo]

So who's placing bets for a gap down?

[Cobra]

hmm, bulls are weak.

[snakehead]

Coming soon:
Benjamin J. Bernanke stars in the off-Broadway production of "The Little Boy Who Cried Wolf" !!
(Words and hot air/halitosis no longer enoght to keep market propped up.)

[Cobra]

now a small double top here.

[Cobra]

I know some may point out a double top requires an uptrend prior to the pattern, so it's not strictly double top, it's a failed double bottom attempt which is even worse the double top. this failed double bottom, however, because it didn't breakout therefore not many trapped bulls there, otherwise you'd see a sharp break down.

[proteus46]

Anyone else see a possible technical bounce on AAPL here?

I'm waiting until the close to see if there is a sell-off into the close. Looks like $579 is a key level as the 50 Fib line.

This is a buying opp, even if you sell before earnings...I think AAPL will rise during this week..near it's low for the week.

We'll see if $579 can survive Tuesday.