Your Monday AAPL Update

With all the negative news out there over the financial sector, as well as the broader market, I’m reminded of the idea that the market will climb a wall of worry. 

As the chart above shows us, people clearly like Apple Inc. (AAPL) as a flight to safety right now. 

The definition of a technical uptrend involves higher highs and higher lows. We’re now seeing that with AAPL’s stock. So, since the bottom in January, we’re officially in an uptrend. 

We also have a MACD that’s bullish… which has been shown to lead to longer and more bullish payday cycles. Those that have been shorting Apple hoping for a big drop are looking at the wrong indicators. 

Remember, we trade off price and NOT the news. Technically speaking, $157 is our threshold.

If we break $157, I’ll be looking for a move to $145/$150.

If AAPL can hold this level – around $157 – we’re sideways to up and potentially breaking out.

We’ll see what happens when I check in with you again next Monday. 

Have a great week!

Micah