AAPL still has a rally target outstanding at 490.97, a 6% move from here. If the stock achieves it, the stock market, particularly the tech stocks, are certain to move higher in sympathy. How likely is this? Very, I’d say, given the ease with which buyers gapped through Hidden Pivot levels represented by, respectively, a green line and a red one. Even so, the stock has looked heavy for the last few days and may need to pull back to get some running room. The first hint that a more significant decline is under way would be signaled by an unpaused drop below 452.18, a number that is equal to a technically important low recorded last Friday before the stock’s most recent advance. Minor trouble would come on a print at 460.59. ______ UPDATE (Aug 20, 5:12 p.m. ET): AAPL remains the only stock we need get right in order to predict the stock market’s important swings correctly. At the moment, it is keeping us from getting distracted by a bearish drumbeat based in part on a Bradley turn date yesterday. Because of this stock’s crucial importance, I am focusing on lesser ABC patterns in order to get a very precise read on the stock as it makes its way toward a potentially important top just above, at 490.97. Subscribers who shorted p2=472.99 in this chart could cover right now for a $124 profit on four round lots, but as I noted in a chat room post at 3:24 pm., the trade was not intended as an overnight hold. You can short at D=479.92, but this is also being recommended as a day trade, very tightly stopped.
