Stock, Option and Futures Trading

Stock, Option and Futures Trading

AAPL going into bigger support

June 6,2011

AAPL did not trigger long but we would not be jumping on short here. The .618 support off the last wave is $338.10 and we also have support on the NQ at 2277. Of course these supports can be broken but we do not want to bet that a pattern fails. We will have to wait for AAPL to set up again off support. Now that AAPL has fallen we would also follow it down with the strike of the call to 345. We are flat but this is how we think and trade and even though AAPL is falling it is still a counter trend short at this point.

Watch the NQ 2277 for day as support.

Happy Trading,

http://www.eMiniSchool.com

 

PS. If we break the 2277 we have our 2-4 day support at 2254

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