Wednesday, 2 May 2012

AAPL and S&P at critical juncture

 AAPL is near 61,8% retracement from 555$ low to 618$ high. If this is an impulsive wave the correction must have ended or is very close to its end. Either way bulls should have 555$ as a stop imho. If broken then 500$-450$ will be tested.

S&P rallied but did not make new highs as DJI. It closed below our resistance line and at 76% retracement. Bulls have more chances that this trend will continue to new highs. First we could test 1390 again.

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