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Monday, March 12, 2012

New all time high in Apple but...



Apple - Made new all time highs today, but be careful as we are in the very last part of the long term uptrend, which began way back in 1997.
In my view the prudent approached will to lift stop to 533 as a break below here will leave us with an overlap between wave four and wave one of the last rally from 516.22 to today's high at 551.42.
Any break below 533 will be the first warning that we might have seen an important top while a break below 516.22 will add confidence in this call.

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