APPL Thrust Exhausted?

Wow... Apple Inc. (AAPL) is on a mini-parabolic rip to new all-time highs at 664.74 so far.

AAPL's "major" parabolic rip occurred between Feb and Apr 2012, from 470 to 644, prior to a 6-week bout of weakness that pressed the stock back to the 529 area.

From a pattern perspective, all of the upside action from the May 18 low at 538.66 into today's new high near 665 does not -- despite its power -- exhibit the form indicative of a new upleg.

The February-April vertical advance, however, did exhibit bull-market upleg characteristics.

Where does that leave me?

As of this moment, my work identifies a window of risk between 671 and 688, from where, or below which, I am expecting the current up-move in AAPL to peak and reverse sharply.

Only a sustained closing climb above 690 will totally invalidate my current outlook, and will point AAPL to 700-750.

At this juncture, failure to continue higher, followed by a decline that breaks 659.80, will represent an initial signal that the current thrust is exhausted.

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