$AAPL Drew this on 10.12 Inverse H&S bottom, needs neck-L break

15 окт. 2021 г.

Hello Traders,

I drew the attached on 10.12 for a discord group I'm in and the H&S Bottom pattern still stands. If it breaks the neckline we should see a reversal and a continued push higher
(although, today I did circle that the closing price is currently at the exact edge of my regression channel).

As I mentioned in my previous recent posts, the market has been a bit indecisive as of late so make sure to manage your risk. We did see the VIX drop way down to about 16.80 down from yesterdays high of 20+... So things are cooling off a little bit.
Today felt like the markets equivalent of a sigh of relief, gapping up past SPY's resistance overnight and ending the day near the high.
Feeling much more bullish going into Friday.

Good luck!

Cheers,
Mike

15 окт. 2021 г.

Заметка

Neckline broke afterhours and gapped up and ran with the rest of the market. Now AAPL is sitting just above the 200ma on the 4hr. I think we could continue to see them run up until earnings get closer (9.5days away).