“Although it might seem ‘outrageous,’ Apple shares could open up next week, Market Studies CEO Tom DeMark said Friday on CNBC,” Bruno J. Navarro reports for CNBC.
“‘If you look at Apple’s entire decline, the most number of consecutive down days has been three,’ he said on ‘Fast Money,'” Navarro reports. “On Friday, Apple stock posted three consecutive days of losses, which DeMark noted were within ‘a very narrow trading range… That typically is indicative of a market turn,’ he said.”
Navarro reports, “‘It would not be outrageous to expect a gap up on Monday,’ he said. ‘We could turn to the upside on Monday and produce an island reversal.'”
Read more and watch the video in the full article here.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]
An “Island of Reversal of Fortunes”? Whatever dude.
A reversal of fortunes for himself! He bought low and now wants to talk it up so that he can sell next week, hope that it drops down by the end of the week so that he can buy again.
Bastard!!!
They left off the last part of the headline: “…or not.”
AAPL generally is contrarian. When the DOW is up, APPL is down. When the DOW is down, APPL is up. (Like gold). So. Now that the DOW has reached the psychological 14K, people will sell, and APPL will go up…!
I also think and hope so
Two words: technical traders.
Got tea leaves?
This is why I run screaming from any article about technical analysis voodoo. It’s BS.
Please: name a famous technical investor. I’m waiting. On the other hand, every successful investor, from Buffett, Munger, Graham, Lynch and others all focus on a company’s fundamentals, not teacup patterns and death crosses.
Promise yourself: NEVER, EVER WATCH CNBC. It’s just noise.
Yes; there will be flight to safe-haven value.
Technical trader? That’s an attempt to put a positive spin on “numerologist”.
Thanks! Now I’ve got to wipe the coffee off my monitor.
“island reversal”… Seriously?! “island reversal”? No really, “island reversal”? This really doesn’t help. (Did he actually say, “island reversal”?)
Yes he did! probably high on something in one of the islands in the sun!
My coin says that AAPL could go up on Monday or it could go down the day before Tuesday.
Or not.
±1
I went in to the retirement accounts and sold other stuff to buy more AAPL when it hit $455.
It’s going up only for the rest of the year.
Stupid statement. It’s absolutely amazing that so few “experts” who have the slightest clue of what they are talking about – especially those steeped deep in denial of Apple’s real troubles.
How come know-it-alls don’t know how annoying they are ?
What are Apple’s real troubles?
Really?? Monday?
How about Tuesday?
How about Wednesday?
How about Thursday?
How about Friday?
How about any workday?
Those Wall Street ANAl-ysts are such genius!!
What if Mr. Jony Ive will be introduced as the new CEO ?
Standing Ovations, yep.
Well so much for that theory.
Took the words right out of my mouth.
What? It popped.
Guy must have meant Tuesday. Yeah, that’s the ticket. Tuesday.