is Institutional Buying, there is little or no bullish volume going into Apple whatsoever. Just take a look at the chart below and you can see that volume in Apple has completely dried up, a very bearish sign, we need to see Apple move up on strong volume, to confirm that a Bullish reversal is in place.
What this means for now? Apple is in a wait and see mode, if Apple breaks above $460 on big volume then I think the reversal is in place and Apple is a Buy, if Apple slips back below $430, you definitely want to sell it. Remember Apple is being driven by news items and rumors right now, whether its an increased dividend or an Apple Watch. So its a very hard stock to trade right now, and the smart money is waiting on the sidelines, and so should you.
Click on the chart to enlarge:
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Related ETF: Technology Select Sector SPDR (NYSEARCA:XLK)
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