Apple AAPL Bullishly Bucks the Bear Day Sept 13
In a surprising move, Apple (AAPL) shares defied the broader market collapse today with a big bullish surge.
On big sell-days like this, it’s helpful to find a strong stock bucking the trend.
Here’s Apple fighting the tide of selling of today’s bearish market:
Friday was a big down day and Monday was a big up day (bounce) just like the broader stock market.
Today is unique for Apple (AAPL) because the stock market is crashing back to the lows while Apple is surging back toward the highs.
This shows relative strength to the market in a big way and draws our attention to Apple shares.
We can see a short-term range between the $103 level and the $110 pivot.
Price burst straight up toward this target level this morning – and we’re seeing follow-through.
Apple (AAPL) would continue a bullish campaign with a breakout beyond the $110/$111 level.
Otherwise Apple shares don’t turn objectively bearish unless they’re beneath the $101.00 level.
Here’s a specific “Relative Strength” Chart of Apple to visualize its strength this morning:
Continue following this bearish-bucking stock for clues of additional strength relative to the market.
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Corey Rosenbloom, CMT
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