The futures were bound for the 2711.00 Hidden Pivot target shown (see inset) when the regular session ended. Upside penetration of the 2683 midpoint resistance was sufficient to imply that a continuation of the rally to at least D=2711.00 is a good bet. Accordingly, I will specifically recommend a ‘mechanical’ bid on a pullback to the green line (2669.19), provided the retracement comes from 2691.00 or lower. A stop-loss at 2655.25 would obtain. As always, if buyers push easily past the target, that would signal still higher prices to come — presumably a test of recent peaks near 2750._______ UPDATE (Nov 28, 2:31 p.m.): The futures blasted off without coming down to our niggardly bid. They are headed for a test of some peaks near 2749 that were recorded from Nov 14-19.______UPDATE (Nov 29, 9:45 p.m.): Buyers easily exceeded all but one of the peaks noted above, implying they will return to finish the job on Friday. Use 2784.00 for a minimum target, and consider it a done deal once p=2753.63 has been surpassed (30-minute, A= 2684.25 on 11/28). _______ UPDATE (Dec 2, 10:09 p.m.): There’s trendline resistance at 2814.75 (click here to see it), but also a clear Hidden Pivot resistance at 2813.00 (60-min, A= 2655.25 on 11/27), implying this powerful rally will face daunting resistance in that range. If buyers can push past it, or better yet close above 2815, that would have bullish implications going forward. The next target above is at 2841.00 (60-min, A=2603.00 on 10/29)._______ UPDATE (Dec 3, 10:14 p.m.): Today’s powerful rally stopped exactly where expected, at 2814.00. The futures have since fallen 40 points to fill the gap from Friday, allowing shorts to cover for as much as a $2000 profit per contract. Our focus will now shift to 2841.00 as the target of the next pop, and there is no reason to presume it will not be reached — presumably this week — with AAPL’s strong rally on cruise control.
