Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.
More Upside Ahead for Apple
If we look at arguably the most constructive chart of all, Apple (AAPL), there is no evidence yet of a topping pattern, unlike in Ford (F), a stock we had liked for some time and discussed earlier today for our subscribers. In fact, all of the action in AAPL since Monday's new all-time high at 279.01 has the look of a high-level bullish consolidation-continuation pattern, which should resolve itself to the upside in a thrust to new highs. The chart projects into the 280-83 target zone, prior to a significant correction that points towards 240 and possibly 210/00.
At this juncture, only a decline and close below 265 will indicate that a correction of significance is already in progress.
