December 18, 2012

  • Apple daily chart shows a bullish engulfing pattern at crucial support levels.
  • Monthly chart hits the 20 Month SMA If price stays above this level we may see a good bounce. 
  • Weekly chart shows price near the base of weekly Ichimoku cloud which is a good place for a bounce. Bears need a weekly close below the cloud for a bigger down move.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore