The Tail Has Stopped Wagging the Dog, But...

[PristineTrading 10]

APPLE Inc. (AAPL) moved the NASDAQ 100 Index (QQQ) for the most part for a long time, but in 2013 that disconnected. AAPL moved lower as QQQ moved higher in 2013. Now AAPL has reached a point where those that have been in love with this stock (rightly so) have to step up to keep the very long-term trend alive.

 

 

 

AAPL made its high in mid-2012 and QQQ pulled back also into the end of that year, but in 2013 that correlation disconnected as the two moved in opposite directions. AAPL is now retesting the low it made in April and buyers have an opportunity to add to those positions.

 

With last week's reversal in the QQQ at support and AAPL retesting the prior low made in April, it's a point in time where the two are aligned again to move higher. If one or the other fails to hold its support level shown, the odds are that the QQQ will move to the second support shown and AAPL will move to the $350 dollar area marked.

 

Join us for this week's Free Workshops and Happy 4th of July to you all!

PRISTINE - A Trading Style, Often Imitated, But NEVER Matched!

 

All the best

 

Greg Capra

President & CEO

Pristine Capital Holdings, Inc.

[tradingwizzard 10]

like in that movie "Wag the Dog"....

 

thanks for sharing