Buyers slogged through a tedious week, providing just enough buoyancy to generate a small gain for the week. They also will have helped the broad averages stay aloft, since this stock remains a key market bellwether. The 178.06 target still looks like a shoe-in to be reached, although it has taken far more time to get there than we could have imagined three weeks ago when it was signaled. Because the time-symmetry of the pattern is so distorted, I’ll recommend taking a small short position when AAPL hits our objective. Which series and strike we use will depend on when the target is hit. _______ UPDATE (Mar 4, 6:29 p.m .): An opening-bar gap topped at 177.75, just 31 cents from our longstanding target. Considering that it took more than a month for the stock to get there, we should expect it to rest for perhaps 3-5 days before embarking on a new bull leg if it does. However, a quick pop past 178.06 would refresh the bullish energy of the hourly chart, especially if AAPL closes above that number for two consecutive days.
