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.

Upside Thrust Ahead for Apple

The action in Apple (AAPL) from Tuesday's all-time high at 321.30 into yesterday's low at 313.55 -- followed by today's probe of 314.25, prior to the current climb to 317.50-318.00 -- has the look and the feel either of a sideways, high-level, bullish congestion area, or a completed minor correction within a still-dominant upleg off of the Oct 29 pivot low at 300.87.

Both of these scenarios project another upleg into new high territory that points to a target zone of 329-331. Only a break beneath yesterday's low at 313.55 will compromise the immediacy of the timing of an anticipated upside thrust.

AAPL will have to violate 300 to significantly weaken its August-November uptrend.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!