Market Watch -January 2013

[Limit5Bass]

On just about any pattern confirmation, you are waiting for the close. You do not discount the intra-day activity, as it could also provide indicators or clues in the direction of the share price, but the close is a stronger indicator than the intra-day activity

EDIT: Here is a close up of the right shoulder as of this morning. The close yesterday was above the neckline.

AAPL 2013-01-15.jpg

Limit - in your chart you state "a break below the neckline on above average volume would confirm the head & shoulder pattern with a target of approx $415". Does that mean that the break has to be done with the closing sp or can it be done with the High/Low sp? It appeared as is if came close if not actually broke thru on the low of yesterday, which is why I ask.

David

[yoda4x4]

It looks like the neckline is sitting right around 500 so unless a miracle happens today, AAPL will confirm the head and shoulders pattern; it's going lower. How much lower is to be discussed, but as of right now it's down to the 590s, -11 or so. For those like myself who have been wanting to buy in, this is giving you an awesome opportunity at a low sp to buy in once it's bottomed.

David

[Dr. Dave]

Any of you guys actively trade (swing, etc.)? Started late today, but see setups... AMPE, BGFV has vol coming in, could break, GFA good $5 break, lol - good old IVAN with an ugly pennant break, PLG past $1, RSYS breaking down at the moment, but could run still, likely for tomorrow, day late on TA (funny ticker)... all have vol coming in. Sorry to derail aapl talk.

[yoda4x4]

According to the P&F chart, AAPL is in the midst of a triple bottom breakdown which to me means there's further downside for the sp. The sp has support at 484.but if it breaks that level, watch out below because the next support level is at 392.

David

So AAPL is basically at support on the High/Low chart. As I had stated earlier, if it breaks this support level, there's alot of downside movement that this stock has room to move to. Hopefully nobody is long at this price. I know I'm glad I'm not.

David

[radejs]

I bought in at $500, looking UGLY right now. Hoping for a stellar report next week or big ouch!
cant win em all, just gotta win most.

[siriusly_invested]

Well, I guess AAPL is out of my league so I have to gloat about lesser priced equities such as Starbucks (SBUX) which has been very kind to me over time, and as of this morning I re-entered at $54 based on the following signals: First, note that the price has bounced off of the lower trend line again (after many previous such moves), and in so doing has entered the gap that lies between $53 and $54. Ironically, this action immediately follows the formation of a Golden Cross (50 dma ascending across the 200dma). Consequently, I decided that if I need any more encouragement than what I saw this morning, then likely I would never be in this game. Sure hope I am right again. Check it out in this chart of earlier this morning.

EDIT: PS. I almost overlooked the formation of the ascending triangle which gives credence to the thought that we should see a breakout to the high side, especially in light of the afore-mentioned Golden Cross.

[radejs]

Is MJNA breaking out on high volume?

http://finance.yahoo.com/echarts?s=M...rce=undefined;

How should we celebrate?

[Dr. Dave]

Well, I guess AAPL is out of my league so I have to gloat about lesser priced equities such as Starbucks (SBUX) which has been very kind to me over time, and as of this morning I re-entered at $54 based on the following signals: First, note that the price has bounced off of the lower trend line again (after many previous such moves), and in so doing has entered the gap that lies between $53 and $54. Ironically, this action immediately follows the formation of a Golden Cross (50 dma ascending across the 200dma). Consequently, I decided that if I need any more encouragement than what I saw this morning, then likely I would never be in this game. Sure hope I am right again. Check it out in this chart of earlier this morning.

EDIT: PS. I almost overlooked the formation of the ascending triangle which gives credence to the thought that we should see a breakout to the high side, especially in light of the afore-mentioned Golden Cross.

Zoom out farther, you have 3 months of serious turnover between 51 and 55, so clear 55, then you can form a handle, and perhaps break 60, market permitting - that scenario looks like it'll take months to play out.... which gives time for the market to do whatever it's gonna do.

[Dr. Dave]

lol, where did my avatar go?

[Limit5Bass]

definitely looks interesting SI....if i didn't have dropped so much into DECK i would have probably jumped on this

Well, I guess AAPL is out of my league so I have to gloat about lesser priced equities such as Starbucks (SBUX) which has been very kind to me over time, and as of this morning I re-entered at $54 based on the following signals: First, note that the price has bounced off of the lower trend line again (after many previous such moves), and in so doing has entered the gap that lies between $53 and $54. Ironically, this action immediately follows the formation of a Golden Cross (50 dma ascending across the 200dma). Consequently, I decided that if I need any more encouragement than what I saw this morning, then likely I would never be in this game. Sure hope I am right again. Check it out in this chart of earlier this morning.

EDIT: PS. I almost overlooked the formation of the ascending triangle which gives credence to the thought that we should see a breakout to the high side, especially in light of the afore-mentioned Golden Cross.