Thursday, February 28, 2013

AAPL + Dow Jones Technical Analysis

AAPL - There was no price continuation for bulls, so we resumed the bearish channel. Odds still favour bears for intermediate term.


Dow Jones leading indicator this week and it formed a megaphone pattern. It would be very very bullish if it holds the 14025 line because the sheer size of this up leg was larger than the down leg. Which means if market continues to stay above major supports, higher highs are expected.