It’s time we looked in on our favorite bellwether, Apple, which is arguably acting like a world-beating company whose shares have entered a bear market. We shouldn’t be too hasty in ruling a  TKO, though, at least not yet, since the stock did precisely achieve the ‘D’ target of its most recent corrective rally. As you can see, despite the stock’s occasionally wicked volatility, Apple can be quite obedient when confronted by a good, clear Hidden Pivot. Notice as well that although the correction provided a superbly camouflaged breakout and three single-bar coordinates, the trade would have been hard to execute because the little sonofabitch gapped through the ‘x’ entry point.

Going forward, we should keep in mind that, as well wrought as this upward retracement was, the ‘D’ high did not exceed any externals as we require to refresh the bullish impulsiveness of a chart. Still, the implications will not be bearish until such time as a down-leg takes out the 552.21 low from May 23. Calling the turns confidently while dramatically reducing trading risk is easier than you might think.  Want to learn how? Click here for information concerning this week’s Hidden Pivot Webinar on June 6-7.