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AAPL at Technical Crossroads


Apple Inc. (AAPL) sure is making life interesting technically.

For starters, let's notice that it is currently trading right in the middle of its 30-points range, 682-650 roughly, just beneath its key resistance line.

If AAPL can claw its way to a 670 print, then it should follow-through towards a test of more important resistance at 680-682.

And if AAPL can print 684, it will trigger upside potential towards a retest of the prior high at 704, on the way to 720-724.

Such defines the bullish P & F scenario after yesterday's sharp upside recovery rally.

Conversely, a failure of AAPL to hurdle and sustain above 670, followed by reversal and print of 664, will rekindle the bearish topping-pattern scenario that projects to 620-610.

Because of yesterday's potent upside reversal, and in deference to the current up- column of blue X's, we have to lean towards the bullish scenario until proven otherwise.

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