Apple Fritter

Apple remains a terribly important stock to watch since it is such a bellwether for the Nasdaq as a whole. It has, for some weeks now, been carving out a series of lower highs, and even with this morning’s strong Nasdaq performance, AAPL could only muster a shooting star beneath its most recent “lower high”.

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Let’s see if we get a gap down tomorrow. If so, we’ll have an island reversal pattern, and we may well be setting ourselves up for a lower low, perhaps following the Fed announcement.

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