APPL - don't confuse pullback with reversal!
There are 2 reasons, in my opinion why we are seeing this pullback - both purely technical, have nothing to do with fundamentals!!
1. Typical pullback before final drop.
2. Market fell hard, lots of shorts, thinking they can pick up easy money upon options expiration - not that easy. I covered my shorts yesterday, loosers, will have issues with their short options, they were winning big last few days, just to see it all go to shit this morning...
I am talking about options players, and overall market here. APPL is a big part of it!
Come next week, free fall will continue. Someone sent me a message with his analysis based on Eliott Wave count, saying that APPL technical targer is at $159. I would not argue with it at all.
I do not have the foresight of telling tops/bottoms, this is why my target is a lower low of about $172, after that we shall see.
1. Typical pullback before final drop.
2. Market fell hard, lots of shorts, thinking they can pick up easy money upon options expiration - not that easy. I covered my shorts yesterday, loosers, will have issues with their short options, they were winning big last few days, just to see it all go to shit this morning...
I am talking about options players, and overall market here. APPL is a big part of it!
Come next week, free fall will continue. Someone sent me a message with his analysis based on Eliott Wave count, saying that APPL technical targer is at $159. I would not argue with it at all.
I do not have the foresight of telling tops/bottoms, this is why my target is a lower low of about $172, after that we shall see.
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