Yup, it's a wild kingdom in the world today~ And worse than that, the Apple has fallen from the proverbial "beats expectations" tree. What's a trader to do?
Not much to say today. It's really kinda repetitive. Looking at the daily chart illustrates the wild ride of rumors and the manic-depressive reactions of large traders. Mania - BUY. Depression - SELL. Yesterday was more of the same. Looking at the 3 day or weekly chart one clearly see's a trading channel that can also be interpreted as a Bear Flag!! So long term one needs to patiently wait for a breakdown below the channel, or a breakout above the channel.
Suggestions?
Don't fight the tape.
Be nimble with your trades.
Longer term, wait for the "signal" before committing to the market.
Pay close attention to the news, as the rumors clearly drive this market.
Watch earnings. Any disappointment and the stock tanks. Good news and the stock gives a little pop.
Go to cash and take a vacation for a couple of weeks~!
Chart below is a weekly chart. Enjoy!!
CURRENT MARKET TRENDS
Long Term (Weekly Chart) – Sideways (Trading Channel)
Medium Term (3 day chart) – Sideways (Trading Channel)
Short Term (Daily Chart) – Yes
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