I wasn’t sure if AAPL would end up closing above 500 this week. But it did in relatively impressive fashion, considering the price action that often occurs around weekly and particularly monthly options expirations. (If you don’t believe in option pin effects, hopefully we’ll just politely agree to disagree.)
Does AAPL’s breaking 500 to end the week portend bullishness on Monday? If you subscribe to the theory that sufficiently high call open interest creates a barrier that’s very difficult for a stock to surmount prior to expiration (which I do), you’ll probably be leaning yes. But leaving OpEx aside (for the most part), do the charts offer any potential clues?
Looking first at the 15-minute chart: