At the End of the Day Market Said Buy

AAPL gapped up today, then continued to rise. About midway through the day it retracted, shedding most of its gains, but retaining the gap-up. The S&P tested resistance, set back on February 13 at about 1370, to start the formation of the right shoulder of an inverse head and shoulders pattern.


The cool thing is that volume was light on the selling down, relative to average volume. This is a sign of weakness on the Bears, and conversely strength resides with the Bears. The backtest confirmed strong support at 1370.

Another bright spot, besides having another green day(+2.81), is that AAPL let off some steam, and reset its oscillators. So, I it's in good shape going forward, and set to move higher, along with the S&P.

We are now in a buyers market, and we're set to go higher here. Have patience.

-zach bass