January 11, 2015

  • Apple weekly chart shows the bullish trend with the up trend line. No weakness yet in weekly chart.
  • The two dips below the cloud did not last long and was followed by good up moves.
  • Price for now is trading between 23.6% and The golden ratio. Bulls can extend the up move if price moves beyond 23.6% Fib level.
  • Trend turning level could be the Golden ratio. Bears need to take price below this level for confirming weakness.


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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