PPR - Apple (AAPL) looking to Pocket Pivot
Apple (AAPL) is moving up through its 50-day moving average on volume that is on track to be higher than any down-volume in the pattern over the prior 10 trading days. It is still early in the day so the situation remains quite fluid, but we would certainly keep an eye on this. One could also take a smaller position with the idea of blowing out if the stock cannot hold the 50-dma at roughly 578, give or take a few cents, and then adding to that if the stock is higher on the required volume to qualify as a pocket pivot by the end of the day.
AAPL's action, should it remain constructive, is likely a barometer for the market.
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