Less than a couple weeks ago I made this post about some choice retail shorts. One of them has worked out especially well, Ross Stores, which is down nearly 8% this morning. As it is approaching a major supporting trendline, I have covered the position.
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AAPL Tests 200 DMA (by Springheel Jack)
I have two scenarios on AAPL here, and given the size of AAPL the way that goes is very important for the wider market. On the bullish scenario the H&S target in the 590-600 area set up a test of the 200 DMA before the next move up. AAPL tested the 200 DMA at 587 yesterday so the downside target on that scenario has now been met.
On the bearish scenario AAPL keeps falling into the 567.5 area, reversing there at a possible H&S neckline before a bounce into the 610-20 area lasting a couple of weeks. On the next neckline break below 567.5 the target would be in the 430 area, but the real target would be long term trendline support slightly over 400.
