Apple and the Parabolic rally
People have gone really mad, buying up this huge stock at current prices. I have no other words than to say that people are just FOMO buying here, not even being aware of what price they are paying fundamentally.
Anyway, piking the high is a guessing game, but there might be a nice setup now. As i just updated in my channel, good chance we wont see any big drops until end of this year (window dressing), but individual stocks still might make a move. There is no H&S, but the sizes fit it perfectly, with the left shoulder and the high of the head. Also what we are seeing past days, could be a bull flag but it could also become a small top formation.
Ideal version would be, to see a big opening gap below 275/4, because that would make the top formation and the H&S very likely. Another version would be to see a break up and seeing it drop just as fast again. That would indicate a stop hunt before starting the drop.
I am personally taking on a small size here, want to have a start position. Waiting for any of the above or maybe another real sign, before making the position anything serious. Stock market has been heel for people who have shorted it past 2 years. There is no sense to be made, for a long time, so i have not even tried to make sense of it. Think only thing we can do, is what the chart, that's the only real thing.
Previous analysis :)
Anyway, piking the high is a guessing game, but there might be a nice setup now. As i just updated in my channel, good chance we wont see any big drops until end of this year (window dressing), but individual stocks still might make a move. There is no H&S, but the sizes fit it perfectly, with the left shoulder and the high of the head. Also what we are seeing past days, could be a bull flag but it could also become a small top formation.
Ideal version would be, to see a big opening gap below 275/4, because that would make the top formation and the H&S very likely. Another version would be to see a break up and seeing it drop just as fast again. That would indicate a stop hunt before starting the drop.
I am personally taking on a small size here, want to have a start position. Waiting for any of the above or maybe another real sign, before making the position anything serious. Stock market has been heel for people who have shorted it past 2 years. There is no sense to be made, for a long time, so i have not even tried to make sense of it. Think only thing we can do, is what the chart, that's the only real thing.
Previous analysis :)
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