I have been patiently waiting with Apple looking for a reversal and not a bottom. It has teased and head faked several times since September 2012. Now it is back at it and this time is not much different the past moves, but it is a move, so we have to watch it. The current bear flag is beginning to fail because we popped out the top last Friday and today, even though the overall market is down, Apple is up and confirming out of the bear flag. That is plus 1. The next item of interest here is that it just barely trading above my CBL buy line. Now the rules out, first we close above the CBL and then wait until the next day for confirmation. Meaning that price goes higher the next day and or stays above the CBL the next day. Plus 2. Now the last thing that I personally need to see is price to close above the 50 day moving average and then confirm the next day. Looking at the buy zone box I drew on the chart above, you will see the 50 day moving is still above price but tomorrow and beyond, the 50 day is going to move into that box. Plus 3, maybe.
Ok, so Apple is watch and maybe, just maybe, she has found a bottom. Wait for it.
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