Charts on AAPL, GDX, Crude Oil, Target (TGT) & China (CAF)

AAPL Violates Key Near-Term Support
Tuesday morning's China-induced decline in AAPL sent the stock below key near-term support at 100.60, with additional weakness possibly into the 97.00 area next. On Monday we suggested to our members that the best news might be behind AAPL, and that investors, in the absence of a new bullish catalyst, should be reducing exposure.

Gold Miners ETF Poised for New Bull Leg?
The GDX pressed to a new corrective low on Tuesday morning -- unconfirmed by my 4-hour RSI momentum gauge -- prior to a sharp recovery rally. In that the GDX pressed to the lower end of my preferred Jul-Sep corrective target zone (24.30-23.70) and also established a glaring positive divergence suggests a significant upside reversal should be approaching. This could inaugurate a new bull leg within the larger 14-month base formation.

Crude Oil Approaching Resistance
NYMEX Crude Oil is pushing towards very important resistance at 96.00. On Monday, we noted to members that crude oil needs to sustain above 94.00-94.25 to confirm a near-term double bottom and trigger projections to $96 and then $98 immediately thereafter. Let's also notice that the Dollar Index (DXY) has started to roll over a bit, as anticipated in our analysis on Monday, supporting and confirming the upmove in NYMEX.

Target Looking Higher
Target Corp. (TGT) has climbed above all of its 2014 rally peaks, including the Feb 28 high at 62.88, which clears the way for upside continuation that projects next to 64-65 on the way to 69-70 from a medium-term pattern perspective. Nonetheless, I am raising my protective stops to 61.47 just in case the Fed throws investors a curve ball in the FOMC Statement tomorrow afternoon.

China ETF on Verge of Break Out?
Since gapping up to an 18-month high two weeks ago, the Morgan Stanley China A Share Fund (CAF) has flagged in the 25 1/2 zone. The ETF appears poised to break out from a massive, nearly two-year base/accumulation pattern in anticipation of better times ahead for the Chinese economy and its equity markets. A powerful technical upside breakout projects to a minimum upside target zone around 28 and an optimal target at 30-32 thereafter.

Mike Paulenoff is author of MPTrader.com, a diary of his intraday chart analysis on key sectors in play and trade alerts on both ETFs and key ETF component stocks. Sign up for FREE 15-Day Trial - Followed by 1/2 Off Our Regular Rates!