A 385.48 rally target aired here last week caught the top of today’s rally within 21 cents, allowing at least one subscriber to get short at the top. There may have been others with similar reports, but a server problem that persisted for the entire day prevented any discussion of it in the Trading Room. I won’t establish a tracking position unless I hear from a few more of you, but you should be aware nonetheless that a thrust above Thursday’s high would portend more likely upside to the 398.46 target shown in the chart. The pattern looks too obvious to work with the kind of precision we have come to expect, but it is almost certain to show tradeable stopping power, since it maxes out ABC patterns on the daily chart. Whatever happens, as I never tire of reminding you, as AAPL goes, so goes the stock market (notwithstanding today’s anomalous divergence). I will continue to track AAPL closely for that reason, so stay tuned for updates intraday.
AAPL – Apple Computer (Last:382.73)