I started posting analysis of Apple on July 30, 2012. Apple was trading just below 600 and was on its way to just above 700. It has been a fascinating stock to analyze with Auction Market Principles especially since it remains the darling of so many analysts that refuse to deal in reality, even after one of the more spectacular individual stock crashes I can recall in my twenty-eight years of trading. You can follow the progression of my analysis in these posts: August 28, September 13, September 30, October 8, October 22, October 24.

Apple is just above its next High Volume Node, which represents volume on the horizontal scale; it’s an area of previous consolidation and two-sided trade. These areas are candidates for support in downtrends and resistance in uptrends. Apple has basically been in an “elevator shaft” since it broke below 600 with little market structure on the way down to serve as potential support. Let’s see if Apple can find a little relief near 404-359. Hey, if you liked it at 700 you gotta absolutely love it at 400! Did you hear how much cash they have?