AAPL Apple Weekly Chart; Earnings Release Day

Apple earnings are on tap after the closing bell this evening. Thus, anything can happen. The top last year was an easy call with the overbot conditions, rising wedge pattern, universal negative divergence, upper band violation and price extended above the moving averages. The mighty Apple falls from the tree and turns brown in Q4. Alas, the apple tree blooms again recovering higher from the V-bottom to start the year.

Note that the indicators were in positive divergence to begin the year encouraging the recovery, however, the MACD line remained weak and bleak. AAPL should have came back down to test the 200-week MA at 139-ish in January but the central bankers would have none of that.

When the stock market began rolling over and collapsing on 1/3/19, the global central bankers colluded stepping-in to save the stock market for their elite privileged class masters. The central bankers are the market. The corrupt central bankers perform the bidding of the wealthy elite class that own large stock portfolios. The Fed's money printing does nothing to help the middle and lower classes, the poor or the disadvantaged. One-half of Americans do not own one single share of stock.

The weak MACD line clearly verifies the power of the central banks. The central banks nullify chart moves with their one-decade long dovish chatter. The central banker intervention always overrides all technicals and fundamentals. The charts then price the news into the chart. As Apple recovers this year, price comes up to fill the gap from Q4. There is another gap at 220-ish that could use a fill (orange circles).

The purple boxes for the ADX show that the trend higher in 2017 was a very strong trend but this petered out in early 2018. When Apple fell apart like everything else in Q4 last year, that sick trend lower was a very strong trend lower. Then the central banker stick-save occurs but despite this 4-month parabolic rally, the ADX says the trend higher in price is not a strong trend this year.

Price violated the upper band so the middle band at 176, which is also the 20 MA, is on the table. AAPL should also want to back kiss the 50-week MA at 190.

For the price highs occurring over the last three weeks, the stochastics and money flow are overbot agreeable to a pull back. The RSI, however, is long and strong and not yet overbot. The histogram, stochastics and money flow are all in negative divergence wanting to see AAPL trend lower for a few weeks forward but the RSI and MACD line are long and strong.

Thus, price needs a 2 to 4 week jog move, either down one week and up the next, or down-up-down-up, to place the multi-week and likely multi-year top (the RSI and MACD need to roll over with negative divergence as price prints a new high). The juice in the RSI and MACD line will likely carry AAPL higher on the weekly basis for the 2 to 4 week period but as soon as the RSI and MACD go neggie d the top will be in. This is likely in early or mid May.

The AAPL daily chart is receiving three days of softness due to the neggie d and overbot conditions. The weak chart indicators on the weekly chart above will conspire with the weakness on the daily chart to create more sogginess in the days ahead, however, the earnings release today is a crap-shoot capable of sending the stock to the moon, or to Hades. As mentioned, based on the weekly chart above, no matter what happens tonight, AAPL likely wants to see another high.

Keystone does not own AAPL right now. Apple is not worth playing with earnings imminent. Although price will likely head higher to 220-ish for a top, chasing the upside seems like picking up nickels in front of a bulldozer. The potential play on AAPL is to wait a couple weeks to see when this weekly chart tops out and then play AAPL short. All eyes will be on Apple after the closing bell tonight. CEO Cook better not be cookin' the books. Will investors eat his cooking? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added Wednesday Morning, 5/1/19: Last evening, Apple beats on earnings, no surprise, hikes the divvy and promises more buybacks. This provides a +5.3% move for AAPL in the pre-market to 211.20. Today is Fed day and the first day of May trading. The monthly charts have a new data point cast in concrete yesterday and the May saga begins today.