Here is your mission, if you should choose to accept it .... Where will the next 5 minute (no stinkin' 1 minute) bar close? Even throw in the symbol, AAPL and the current price - today's RTH close anyway $151.60 Get out your spreadshits, go to nearest Apple Store, ask a neighbor, whatever. Up down or unch? First correct answer longshortie pays you one big fat nuthingburger.
Is that a trick question or a very simple question or a very complex question? It has been ranging from around 125 to 170. So it will continue to range for the next few minutes/hours/days/weeks ... until the chart says otherwise.
I dunno' about next 5 minutes, but I can tell you about next 5 years...The answer is up. Why? Because all the kids that are 6-10 YO now will in 5 years be demanding a smart phone. And there's a LOT of dem damn kids out there. And they are not cost-conscious and thinking of older models...They want the latest-and-greatest iPhone. AAPL is truly a stock to own, not to trade.
I've tried and failed to emulate Soros, Buffet and Rogers. Perhaps their methodz were good back when CTA trend followers were pulling 20% years over and over, but something may have changed in 2008. Now I think the market is a jungle, and everyone is prey. But there is an order to the chaos, and it involves the pattern left behind when money is getting sucked out of millions of accounts......
Here's the important difference between all them funnymental fellers and all you TA goons. TA (when hearing that TA is BS): You don't know what you're talking about!!! TA is reign supreme. What, I'm defensive? I'm overreacting? Funnymental (when hearing that FA is #$@%!!): Yeah, whatever.