If the Cubes fall to the 254.96 target today, it will have been three weeks in coming. It has been a tortuous path for bears, even if the gap-down opening on 9/17 all but clinched the ride. The corresponding target for AAPL is 100.99, a Hidden Pivot that at this point looks unavoidable. A secondary ‘hidden’ support lies at 257.89 (60-min, a= 280.36 on 9/16), and you can bottom-fish there with a stop-loss as tight as eight cents because it is so well located, away from any ‘structural’ supports. _______ UPDATE (Sep 24, 9:41 p.m.): The rally to the green line (268.02) tripped a mechanical short. No one reported doing the trade, but in any event, half should be covered at p=262.96.
QQQ – Nasdaq ETF (Last:265.42)