Apple and the Parabolic rally, part 2
Well the H&S option was very short lived, because the market did an end of year rally once again. The small position i have is still running for now and i will keep it for at least a few days longer. It has become clear, Apple buyers are betting on good earnings end of this month, expecting Apple services to beat expectations.
As mentioned in the previous analysis, equities are very dangerous to short since the madness still continues. Think the weekly chart is showing us that. Anyway, not going to do anything with this position for now, looking to add more but will only do it after seeing some real weakness. 308 seems to be a real support level now, but even that is not enough for me. Want to see 300ish break first before thinking of adding anything to my position. At least some kind of top formation we had a year ago, when i gave a bearish analysis. Also drawn a channel,, because past months equities have turned all short term bearish patterns into bull flag patterns. So we want to see it drop below that zone as well.
As mentioned in the previous analysis, equities are very dangerous to short since the madness still continues. Think the weekly chart is showing us that. Anyway, not going to do anything with this position for now, looking to add more but will only do it after seeing some real weakness. 308 seems to be a real support level now, but even that is not enough for me. Want to see 300ish break first before thinking of adding anything to my position. At least some kind of top formation we had a year ago, when i gave a bearish analysis. Also drawn a channel,, because past months equities have turned all short term bearish patterns into bull flag patterns. So we want to see it drop below that zone as well.
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