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Apple Not Yet Broken Out


Although Apple (AAPL) popped to a new intraday recovery high at 589.49, taking out the prior high at 588.50 from June 11, from an intermediate-term point-and-figure perspective it still has not "broken out" with a print at 590.00.

Unless and until that happens, the anticipated buy signal and projection to 605/08, and then to 623/26 remains "pending." At this juncture, only a decline that prints 584 will begin to argue that buy signal will remain elusive for longer than we might anticipate.

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