Has AAPL Started a New Upleg?

While my preferred scenario for Apple Inc. (AAPL) called for another corrective loop to the downside into the 490 area, this morning’s climb above 506.80 indicated strongly that AAPL likely is heading for 520/25 prior to the possible onset of a meaningful correction.

That said, the real surprise would be a move above 520/525 towards 550-560, which I cannot rule out either.

Only a failure of today’s strength to continue higher, followed by a break of 500 will invalidate the expected near-term climb to 520-525.