Close, but no cigar. Apple relapsed beneath Monday’s lows as feared, but the move was neither bullish nor bearish because the new bottom at 555.00 only succeeded in bringing the stock even closer to my original correction target at 555.29. Camouflageurs could have staked out a long position at 562.74 (see chart), but because I hadn’t suggested it, I won’t be establishing a tracking position. A strong rally in the days ahead would get Apple out of the danger zone, but if my Hidden Pivot target contains sellers for only a few days, that would have very bearish implications.
