I’ve given AAPL a spotlight and a drum roll for the last couple of weeks as it has inched its way toward the 168.33 target shown. There’s another even more important target at 168.46 that is derived from a bull-market pattern going back to 2013. Between them, we should expect these two Hidden Pivots to show stopping power that is both precise and decisive. A major top is what I am predicting, and we will get short there when the opportunity arrives. More immediately, bulls were stymied last week by the ‘secondary’ Hidden Pivot at 164.91, but I don’t expect it to give them much trouble this week. Traders can use a pullback to the red line 161.48 to generate a mechanical ‘buy’ signal; however, to pare the $348 entry risk down to a theoretical very small fraction of that, I’d suggest using the mechanical signal to craft a ‘camouflage’ set-up on the three-minute chart or less. _______ UPDATE (Sep 5, 9:45 p.m.): The yellow flag is out, since AAPL’s plunge today followed a stall almost precisely at the midpoint Hidden Pivot resistance. That would be an unsurprising spot for a bull market to end, although there is not yet any evidence in the daily chart to suggest the 168.33 target that I’ve been drum-rolling for weeks will not be reached. In any case, it is a time for extreme caution and close observation of the intraday charts. If the stock’s fall were to exceed the 160.00 low that I’ve labeled (click here) by Thursday’s close, that would be reason for bulls to ratchet up their worries.________ UPDATE (Sep 6, 6:10 p.m.): DaBoyz sandbagged buyers with a deceptively upbeat opening bar, setting the stage for the moderate selloff that followed. The stock spent the middle of the day recouping much of the loss, but the rally fell well short of impulsiveness on the intraday charts and eventually triggered a ‘mechanical’ short midway through the session. Night owls can get short at 162.09 if the opportunity should arise, using a 163.00 stop-loss. _______ UPDATE (Sep 7, 5:57 p.m.): Getting short at 162.09 as I’d advised above would have put you in a winning trade Thursday morning 15 cents from the intraday high, 162.24. This gambit would have produced a relatively quick, painless profit on 400 shares of up to $690. However, because there was zero interest in the trade in the chat room, even from a subscriber who queried me about the stock, I have not established a tracking position. For the record, my target is 159.38, and you can access an explanatory chart by clicking here.
