$AAPL could take a tumble right about now…

11/04/2015

Having underestimated Apple’s ability to buy its own stock ($100 billion worth so far since everyone else already owns it), AAPL has rallied higher than I expected after its plunge finally signaled the Aug/Sept down swings (they shoot leaders last) but it is now back up at resistance (sizable) and could sell off again, taking the market with it.

Sometimes it seems there is only one stock in the market.

Anyway, it’s been a nice 20 percent climb (that’s a lot of market cap), and could keep going (they have the cash), but might not, right about here.

(click on chart for a larger image)

aapl_short_term_2015-11-04_1629

A longer view:

(click on chart for a larger image)

aaple_longerterm2015-11-04_1630

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