CLICK ON CHART TO ENLARGE
Apple remains inside of a quality trading range as it bounce off of support at (1) in the chart above. Now Apple is approaching the top of its trading range, which has been key resistance for the past four months.
500 index rally of the past couple of days, now has it touching the underside of the 150-SMA moving average at (3).
Should we base our investment decisions on the outcome of the vote in Greece or the price action and patterns at hand in Apple and the 500 index?
Aaron…I remain open to any possibility! The “H&S” isn’t proven at this time. A break above the RS will be followed.
If my eyesight is not failing me then the S & P may hit the top of the channel around 1320-1325 at which time a right shoulder may form.
If a break above 1330 occurs, would you recommend going long?
Thanks,
Aaron