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AAPL Triggers Near-Term Point and Figure Breakout


This morning's up-gap open hurdled key P&F resistance at 546, which unleashed a vertical upmove towards a measured near-term swing-target zone of 560-562.

That said, my intermediate-term work argues that the 530 pivot low ended the entire correction off of the 575 peak.

If accurate, that means that Apple Inc. (AAPL) is in the midst of a new upleg off of its 2012 lows (385-388), which points toward a confrontation with the resistance line shown here in the vicinity of 568-570.

From an extreme near-term perspective, a print of 556 will trigger a new down column of Red "O's" that will indicate that AAPL is correcting its vertical upmove from 534 to 559 into the 550-548 area, which I consider to be the next important buy window.

If AAPL does not trigger a down column of Red O's at some point today, we should brace ourselves for another thrust towards the above-mentioned higher target zones.

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