This is an article published tonight regarding our activities during the day with respect to AAPL (Apple) and a later CNBC interview (from tonight) in which famed market timer Tom DeMark makes the same call we did earlier in the day.
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*Since you don’t have access to the member’s content that is linked in the article, I added the AAPL charts from today’s analysis under the AAPL Charts post.
DeMark Calls AAPL Bottom
It seems Tom has been busy this week, a market near the top, AAPL near at a bottom, interestingly all in line with our own analysis.
This is the second night in a row I’ve heard DeMark make a call and it’s the second one that is pretty much exactly in line with what we have been predicting.
My DeMark inspired indicator isn’t giving a signal, I believe Tom’s TD Sequential is the one giving a signal, but 3C was giving strong signals today as you can see above.
One other thing I might point out, especially for new members if this trade works out as planned…
The price pattern in AAPL right now is a large descending triangle which is a bearish consolidation/continuation pattern. We not only thought we’d get a head fake, but we discussed several times a Crazy Ivan head fake. You see, for Technical Traders, they expect this price pattern to follow the red arrows, the breakout to the upside would have voided the pattern thus it’s a head fake move in yellow. The Crazy Ivan is another head fake breakdown in the opposite direction, essentially clearing and/or triggering all the stops and orders. Yesterday I talked about AAPL and the psychological century mark of $500, the chance of a Crazy Ivan and today we have the signals that would tend to confirm today’s break down as a Crazy Ivan head fake making the long call trade today a high probability trade. It will be interesting to se how this plays out, but I rarely hear of DeMark calls and now 2 in a row and both the same direction and the same timing as our own analysis, I’d actually prefer DeMark didn’t make the public calls, but they’re out and it will be fascinating.