$AAPL Chart QuickTake, 06/17/14 Market Close: Whisper-Quiet

Get it, trading volume joke. I’ll be here all week…and for some reason I post charts pretty much all week, even though I’d said I’ll be dialing it back. Well, eventually.

Just when you thought 35M shares traded was low…AAPL couldn’t even break 30M today. My WAG, it’s a combination of AAPL being non-directional, activity in other momo names, slow news cycle, that maybe-phone from Amazon tomorrow, potential effect of the share split.

I don’t think AAPL volume will get that much lower, but who knows. In the meantime, any fragments of clues in the charts?

(Click for full resolution charts)

5-min chart:


– No, not a suggestion of pennant/continuation after the bounce from 90.88. Just trendlines.

– Lower high, but also higher low. At some point this situation will change, and maybe we’ll get a better semi-clue then.

– Still within the 91.75-92.85-ish price band, and no break of micro support so far.

– The bear flag theory is still out there, I suppose. Is that a head-and-shoulders-looking pattern from Monday mid-day/afternoon to the present? Overall, we’re still just waiting for the next significant move on this timeframe.

Hourly chart:


– Nothing much to say here. The first hour’s trading very nearly defined the entire trading range for the day.

– Potential bear flag as noted above, vs. AAPL not looking too shabby at a volatility compression point (mid-channel is holding so far).

Wrapping up with the daily chart:


– There are worse ways to trade after Day 3 of negative MACD-h, though the very low trading volume at the minimum wouldn’t seem to favor bulls.

– AAPL remains above the EMA-13 as Bollinger Band compression on this timeframe continues to play out (slowly).

Intermediate trend still fine; short-term trend neutral-to-bearish; not much changed in the charts from Tuesday (though that’s just me). We’ll see if tomorrow’s news out of Seattle, the Fed update, and/or some other factor(s) move AAPL much in the near term.

Best of luck on your Wednesday trading.


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