AAPL – Apple Computer (Last:119.23)

The chart contains a hint of Philadelphia, where a corrupt Democratic machine stepped in late at night to pull out the election for Biden. In this case, the carny men who feed off a stock market they’ve cleverly rigged, pulled AAPL out of a tailspin that almost stopped out the bullish pattern shown.  This has drawn our focus to the 127.52 midpoint resistance, albeit not yet to the secondary pivot at 139.72 that sits above it. The lower number became our minimum upside objective last week and remains so, although not with the high confidence we’ve had in the past in AAPL’s gaffed momentum. Even so, our short-term bias for trading purposes should be bullish, predicated on a probably balky move to the target. The old ‘D’ target at 151.93 that we used to profitably butterfly the stock at one point is still valid but feels a little too ambitious at the moment. _______ UPDATE (Nov 12, 8:48 p.m.): The red line at 127.52 looks like a promising place to get short, but the trade is unlikely to pan out until next week if it happens at all.