AAPL Apple Daily Chart Overbot Rising Wedge Negative Divergence

AAPL is the markets and this wild parabolic move is now ending. The effects should be dramatic on markets. The gap up move occurred at 444 creating the island that price now sits on above. Thus, when price comes down, an island reversal would be in play. Note all the neon green gaps that Apple left behind on the way up; all will need filled at some point in the future. Looking at the red lines, we watched the prior top occur, as always with momo stocks, they spurt upwards a lot further than you think. The 525-550 top projection held with price reversing from 550-ish. The red lines show firm negative divergence, as well as overbot conditions and the red rising wedge, all causing the smack down. But the MACD line (green line and circle) wanted to be different and decided that it wants to see another high in price. We now received this higher price high to satisfy the MACD line and now it, as well as the other indicators (blue lines) are all negatively diverged now, so the spank down for price is so close you can taste it.

A doji candle printed Friday and today we will call the candle a stubby hanging man, both indicative of a trend change, which would have to be verified tomorrow with follow thru to the downside. This is it folks, what the market bears have been waiting for, they have the stars aligning and will receive a chance to do some market damage now, tomorrow we see if they can start the negativity ball rolling down hill, or not. Projection is a smack down for AAPL now, perhaps bounce off the 20-day MA which would be short-lived, then further downside. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.