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Apple Consolidating Gains


Since it hit its post-earnings peak at a point-and-figure print of 618 (off of 555), let's notice that until a few minutes ago Apple (AAPL) was consolidaing its gains in a high-level area above 607.

However, the triple low at 607 was violated, and sure enough AAPL has followed-through to a print low at 604 so far, but could trade down to 598-596 prior to the conclusion of the corrective period, and my expectation of the emergence of another upleg.

Only a decline that prints 594 will argue for 588-585 thereafter. Conversely, a print of 607 now will trigger a column of blue X's, while a print of 615 is needed to confirm that a new upleg is in progress-- towards 617-630 next. 

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