AAPL – Apple Computer (Last:142.18)

AAPL looked like hell last week, stopping out the point ‘C’ low of a weak bullish pattern, but making little headway on the obligatory bounce.  Desperation will not provide the distribution opportunities its handlers seek, but their one good trick  — gapping the stock down on the opening in order to exhaust sellers — hasn’t been working lately because shorts are not as easily spooked.  Well below the pattern is a downward sloping, red line. It is the lower trendline of a channel I’d said could contain some big swings in 2023 without allowing a major breakdown or breakout. For your information, the upper channel-line will come in at around 172 this week, the lower at 121.  In theory, that would free the stock to swing wildly over a 51-point range as we enter the new year.