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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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NOTABLE POSTS WITH IMPORTANT UPDATES...

Friday, January 25, 2013

Will AAPL Stabilize Around 400-420ish?

We didn't see the bounce in AAPL that I was wondering about in my post on January 5th. Momentum continued to the downside and price has pushed down to around 440 as I write this article around mid-day on Friday.

AAPL is still underperforming the NDX, as shown on the Weekly ratio chart below.


Price is approaching a 50% Fibonacci fanline at around the 420ish level, as shown on the Weekly AAPL chart below.

Major support lies somewhere around the 420-400ish level. It will be interesting to see if price begins to level out there, especially as it has now broken below its large uptrending channel from the 2009 lows.

Apple Inc. has also lost its place as the most valuable company in the world to Exxon Mobil.