Apple - So, You've Been Taught To Buy That Dip...
Updated
Apple has really been, perhaps arguably, the key reason the bear market rally has been as extreme as it has in 2023.
Looking back to January, there really has not been even a single genuinely bearish day.
But with Q2 earnings as a catalyst, we now have signs of a genuine and significant reversal pattern, and at an all time high. It's very evident on monthly bars.
Weekly bars are even more obvious, showing that today, we took the July low, and there's no luft to the bounce.
Long is a bad trade and short is now a good trade, is what we're being told.
"The trend is your friend, until the end" is a saying with a lot of wisdom. If you can figure out you've ran into "the end" in the first few hours, then you really will be a lucky person.
A lot of people may be about to blow their accounts trying to buy that dip, which they've been conditioned to do so like Pavlov's dog and his bell.
Apple is a company that's maintained close ties, all these years, to the Chinese Communist Party. You should always remember there is a difference between "China" and "the CCP."
China is a 5,000 year old country with a culture of dynasties that were imparted since the Great Flood by the Divine.
The CCP is a 100-year-old Red Demon whose existence was arranged to destroy humanity, the Earth, and the Cosmos itself.
Xi Jinping has ruled both China and the CCP since 2012, and it's both a blessing and a curse for him. If Xi isn't intelligent enough to go Gorbachev-style and overthrow the Party in the middle of the US night, then Xi will go down in history as the leader of the rogue regime at the end, and will be responsible for everything it has done in history.
This includes the 24-year-long persecution of Falun Dafa's 100 million spiritual cultivators.
Although the persecution was started July 20, 1999 by former Chairman Jiang Zemin and conducted by the toad's faction all these years, and Xi has been killing and bankrupting the rogue faction's minions in the Anti-corruption Campaign, the problem with being tagged as the CCP's leader is that the head is always the first thing you cut off with the guillotine.
So, here's the thing for Apple.
I expect Apple to take the $176.93 July low, probably sometime next week, based on how the markets are reacting.
From there, we may see a retrace.
What this will indicate is that Apple's market, for the first time in 2023, has finally shifted bearish.
What this is the canary in the coalmine for is a significant correction. You can actually see this kind of pattern play out strongly in Amazon's monthly bars, which I comment on in their earnings pattern below:
Amazon - Greed, Just Like Speed, Kills
I anticipated that SPX was due for numbers as low as 4,420~ in the below call:
SPX - The Sound of a Shattering Iceberg
And so the setup with Apple is this:
Short any bounce, with a target of $174. Then, don't get greedy. Anticipate a bounce into the August 18 options expiry.
But that bounce may be no better than a flirt with $190.
From there, you can consider it a "Godshort" with a target below the 2022 $124 low.
And what I want to say is that if Apple has topped, everything is topped.
Everyone is greedy and blinded by greed, buying highs without fear. Buying highs without fear.
Buying highs without fear!
"We are fearful when others are greedy, and greedy only when others are fearful" is something Warren Buffett is notable for stating.
And although Buffett doesn't qualify as any kind of a good man, the Truth is the Truth, even if a toad states it.
Be careful. Things are about to change extremely quickly. Can you keep up? Can you enlighten to it?
Missing the chance, there may be no further opportunities.
Looking back to January, there really has not been even a single genuinely bearish day.
But with Q2 earnings as a catalyst, we now have signs of a genuine and significant reversal pattern, and at an all time high. It's very evident on monthly bars.
Weekly bars are even more obvious, showing that today, we took the July low, and there's no luft to the bounce.
Long is a bad trade and short is now a good trade, is what we're being told.
"The trend is your friend, until the end" is a saying with a lot of wisdom. If you can figure out you've ran into "the end" in the first few hours, then you really will be a lucky person.
A lot of people may be about to blow their accounts trying to buy that dip, which they've been conditioned to do so like Pavlov's dog and his bell.
Apple is a company that's maintained close ties, all these years, to the Chinese Communist Party. You should always remember there is a difference between "China" and "the CCP."
China is a 5,000 year old country with a culture of dynasties that were imparted since the Great Flood by the Divine.
The CCP is a 100-year-old Red Demon whose existence was arranged to destroy humanity, the Earth, and the Cosmos itself.
Xi Jinping has ruled both China and the CCP since 2012, and it's both a blessing and a curse for him. If Xi isn't intelligent enough to go Gorbachev-style and overthrow the Party in the middle of the US night, then Xi will go down in history as the leader of the rogue regime at the end, and will be responsible for everything it has done in history.
This includes the 24-year-long persecution of Falun Dafa's 100 million spiritual cultivators.
Although the persecution was started July 20, 1999 by former Chairman Jiang Zemin and conducted by the toad's faction all these years, and Xi has been killing and bankrupting the rogue faction's minions in the Anti-corruption Campaign, the problem with being tagged as the CCP's leader is that the head is always the first thing you cut off with the guillotine.
So, here's the thing for Apple.
I expect Apple to take the $176.93 July low, probably sometime next week, based on how the markets are reacting.
From there, we may see a retrace.
What this will indicate is that Apple's market, for the first time in 2023, has finally shifted bearish.
What this is the canary in the coalmine for is a significant correction. You can actually see this kind of pattern play out strongly in Amazon's monthly bars, which I comment on in their earnings pattern below:
Amazon - Greed, Just Like Speed, Kills
I anticipated that SPX was due for numbers as low as 4,420~ in the below call:
SPX - The Sound of a Shattering Iceberg
And so the setup with Apple is this:
Short any bounce, with a target of $174. Then, don't get greedy. Anticipate a bounce into the August 18 options expiry.
But that bounce may be no better than a flirt with $190.
From there, you can consider it a "Godshort" with a target below the 2022 $124 low.
And what I want to say is that if Apple has topped, everything is topped.
Everyone is greedy and blinded by greed, buying highs without fear. Buying highs without fear.
Buying highs without fear!
"We are fearful when others are greedy, and greedy only when others are fearful" is something Warren Buffett is notable for stating.
And although Buffett doesn't qualify as any kind of a good man, the Truth is the Truth, even if a toad states it.
Be careful. Things are about to change extremely quickly. Can you keep up? Can you enlighten to it?
Missing the chance, there may be no further opportunities.
Note
Another $4 red on Apple this morning, bringing it precariously close to the targeted low.It may not be such an easy dip to buy.
Note
Apple gunning down the June low, again, instead of bouncing is trying to tell you something.And it's probably that the upside, if there is a bounce heading into Jackson Hole and the end of the month, may not be much better than $186.
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