AAPL Note For Those Who Still Own Some
First off, today's earnings pop takes it up to trend channel resistance and even a skirting of it. You can also see that its basically at the lows of the day here which means aside from the opening impulsive suck in the late to the party people its actually showing some distribution on the day as of this moment.
Regardless its extremely extended. One would be wise to remember what FB, GOOG, MSFT, and AMZN did shortly after the dust settled from the earnings reaction before even thinking about chasing it up here. But hey, we all already know why we don't around these parts as you'll see in the charts below.
Notice what they all have in common? ALL are the heavyweights of the NDX-100 index and because of that, they do all the driving.
Look, I don't know if its going higher from here or not, NOBODY on the planet knows this. You can have someone spout out a target but they truly do not know its going there. We can place targets all we want but the chart action really tells the story.
And that is the main point I want to make here. The action route that the other tape painters (FB, GOOG, MSFT, AMZN) of the NDX-100 index went once the earnings reactionary pixie dust wore off.
Just thought I'd share what I've been seeing out there with what the other tape painters have done since the pixie dust wore off. As always, use what information you can that serves you and your highest good and throw out the rest.
Disclosure: None.
Disclaimer: THESE ARE NOT BUY RECOMMENDATIONS! Comments contained in the body of this report are technical opinions only. The material herein has been obtained from sources ...
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