8/17 Friday

Fibonacci is a GREAT tool for the uncharted territories to forecast the pivot areas.

I’ve been using it over 4 years and ITS VERY VERY ACCURATE! (if you know how to use it correctly)

Here is my new bullish trigger above $653.

Target 1 = Fib Expansion 138.2%  at around $690

Target 2 = Fib Expansion 161.8% at around $718

Stop is at $631.20 and I really like this stop because it is just below the rising window gap.  And just right above that is the all time high pivot area. so I think this is safe stop if or when $AAPL decides to retrace and test those as new support.

Great volume today adding to that rising window.

Parabolics – bullish

DMI- Bullish

ADX* (STRENGTH/MOMENTUM) = BULLISH WITH AUTHORITY moving above 20 line.

You know I am very surprised to see that ADX is just now starting to gain momentum.. I was thinkig that it would be way up there at around 50-60 level.

Nonetheless its advantage for us.

Look at this uptrend (almost channel like) resistance that has been served significantly as respected price points.

Last July we had break-out as it seemed but it came right back down after throwing a Dark-Cloud Cover reversal on July 10th.

Today we broke out with a Rising Window which i believe its a Continuation Gap since the bullish move we had starting 27th of July.

What we could possibly see is that next Monday, $AAPL testing that uptrend channel line as a new support  and that gap area as new support.

Keep in mind though, Market as a whole (3 indexes) are at its pivot.

 **BONUS ANALYSIS** = Only hypothetical assumption (we don’t have enough data for this)

POSSIBLE TRADING LANES FORMING. Again we don’t have enough data to confirm this but might be fun to see how it plays out!

8/20 Monday Morning – Got Triggered Bullish

8/20 Monday After Close – I don’t like this

I tell you why I don’t like this at all even though I am banking on this trade.

$AAPL is moving TOO FAST & TOO STRONG while 3 Indexes ($DJIA, $SPX, $NASDAQ) are stuck at its pivot and still in consolidation period.

Here is the reason why I do not like this one bit.  Because when cards are dealt in this way, $AAPL can fall just as FAST and just as HARD.

Most of it, it’s just all hype I think.

We closed today with Marubozu candle which is saved top and bottom which suggest very bullish strength.

At times though, it can be deceiving because when you see Marubozu most people think it’s going continue, but so many times I’ve seen it just reverses next few days.. it’s like the move is done afterwards or something.

I like when stock moves steadily because the retracement is also not as volatile.  I am telling you if Market starts to slowly roll over tomorrow, this thing COULD TANK to $620 in ONE DAY! No kidding!

You could lose your weeks of gain in one day when it moves this fast while the market went no where.

I have removed my stop and placed very tight trailing stop.  So I suggest you do the same if you are already sitting with some good ROI but EXPECT retracement.

8/21 Tuesday Morning

Well I closed out my position this morning with 50% ROI.  I am satisfied with it.