No matter what news has driven Apple sharply lower on any given day, week or month in the past decade, there has not been a single instance where the loss was not quickly recouped by strong hands eager to transform each plunge into a swoon. The company has so many fabulously promising revenue streams — ones, even, that will produce solid income if the world economy were to slip into Depression — that we should always be buyers on weakness. In any event, the stock topped yesterday almost precisely at the 393.56 Hidden Pivot shown (Daily chart where A=365 on August 25), but if it closes one more day above it, we should expect a test of late July’s all time high at 404.
