AAPLTalk Late Night QuickTake, 9/9/13 Market Close: “We’ll Be Back Soon.”

There’s still charts, but commentary will be kept very short, as it might be even less relevant than usual in light of tomorrow’s big iPhone event. 😀

It’s simply too early to call.  There’s the event; reaction during the event; reaction after the event; reaction to iOS 7; iPhone pre-ordering; iPhone launch and initial sales…

And that’s before the pre-earnings interval and maybe even an iPad event, who knows.  Anyway, tomorrow is likely to be a day where technicals won’t mean much (not like technicals can predict future price action, anyway), except maybe day-trading on the shortest of timeframes.  So for tonight, I’m just posting the charts with minimal comment, and maybe we’ll get some better clues later in the week.  Even though I think these “looking back” reads will continue to be significantly tougher right up ’til late October (when Apple should announce its fiscal Q4 results).

30-minute chart:

aapl-30min-090913close

– Over the yellow brick road.   I mean, gold parallel channel.  And also the descending parallel channel, though not quite out of the top base uptrend line yet.  MACD-h “appropriately” indecisive headed into a major Apple event.  It’ll be interesting to see how AAPL does now that it’s escaped the upper boundary of the 485-505 “airspace” for the time being.  A trigger of this descending/parallel channel bull flag could be pretty potent, but to my untrained eyes it’s too early to tell if it’s happened.  Luckily there’s a few points of reference nearby, such as the top connecting points on the trendline (508-510ish, 512-514ish) as potential early signs, though who knows in this could-be-quite-volatile time.

Hourly chart:

aapl-hourly-090913close

– Not much to say here.  AAPL weathered the gap-up-fading attempt quite nicely and closed above the open, bouncing off 505 but not necessarily with power – then again, it’s an uncertain time in the wake of Apple’s biggest media/product event of the year.

Daily chart:

aapl-daily-090913close

– Those “pesky” gap ups.  Then again, MACD-h making progress, AAPL had a chance to work off overbought condition quite nicely (based on Fast Stochastics-type indicator, anyway), and did you see the lower daily BB?  A remarkable surge in just a day – it’s now in the high 470s!  A bit of a volatility squeeze/”decision gate” on the way?  Hey, it’s a hugely important Apple event.  “Why not”. 😀

Finally, the annual iPhone event is nigh.  Be interesting to see exactly what Apple has in store – we know/have a good idea about most of the basics, but it’s Apple’s time to show us more of the specifics, as well as make their case to consumers and the media at large.  See you on the trading floor – and maybe a live QuickTime event feed, if there is one – tomorrow.

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