My near-term work is telling me that after three tests of its July-February trendline during the past week, Apple (AAPL) is ripe for a counter-trend rally period that should pop the stock to at least 84.20/40 in the upcoming hours and possibly to 90-92 thereafter. Let’s keep in mind, though, that right now my work is warning me to consider any forthcoming strength as a recovery within an incomplete larger downside corrective process off of the Jan high at 99.38. Be that as it may, AAPL has the requisite technical underpinnings for a rally – and/or excellent relative strength vis-à-vis the overall market, which is struggling.





Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.