AAPL Chart Talk

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    Posted: 10 September 2012 08:08 PM #1366

    That’s not a daily BB.  That’s a 2-hour chart.

    You have to know your timeframe.

    Obviously, lower BBs are being breached in the shorter timeframes.

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
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    Posted: 10 September 2012 08:09 PM #1367

    rickag - 10 September 2012 08:02 PM

    lovemyipad

    I’ll try. I’m using the 20 day chart @ Trademonster with a 20 period and deviation of 2.

    rickag, chart came through, but it doesn’t enlarge when I click it, so it’s too tiny to see the detail.  I have TradeMonster too, though, so I’m thinking this may be the “20-day / 2-hour chart.”  If so, I especially liked that setting for monitoring SMA-20 and SMA-50…especially watching for the crosses!

         
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    Posted: 10 September 2012 08:15 PM #1368

    lovemyipad / Mav

    You’re right I see the error of my ways, I forgot to change the time frame when I switches to the 20 day chart.

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    Waiting to be included in one of Apple’s target markets, but I still own an iPod, iPhone and iMac and APPL stock.

         
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    Posted: 10 September 2012 08:16 PM #1369

    AAPL Two-Hour Chart

    rickag, okay, here’s my Two-Hour Chart.  I do love this timeframe because it’s a nice in-between snapshot ... between daily and the shorter intraday timeframes.  And one very important thing DOES jump out at me…as you noted…we pierced the lower BB on the 2H.  When AAPL falls outside the lower BB on the 2H chart, it doesn’t stay there for long.  We shouldn’t be far from an oversold bounce…

    See that pink line?  SMA-100 on the 2H.  Wouldn’t surprise me… (652.62)

    [ Edited: 10 September 2012 08:20 PM by lovemyipad ]      
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    Posted: 10 September 2012 08:17 PM #1370

    rickag - 10 September 2012 08:15 PM

    lovemyipad / Mav

    You’re right I see the error of my ways, I forgot to change the time frame when I switches to the 20 day chart.

    No worries!!  We grade on a curve around here: A for Effort!!! smile

         
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    Posted: 10 September 2012 08:26 PM #1371

    lovemyipad,  thank goodness you grade on a curve.  smile
    lovemyipad, thank you for the graph. I’m supposing the 100 day SMA may represent a short term low?

    [ Edited: 10 September 2012 08:31 PM by rickag ]

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    Waiting to be included in one of Apple’s target markets, but I still own an iPod, iPhone and iMac and APPL stock.

         
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    Posted: 10 September 2012 08:35 PM #1372

    Wait wait wait.

    100-day?  Or 100 time interval (time periods)?

    If you’re on a 2-hour chart, it doesn’t go back 100 days.  It _would_ allow for 200-hour moving averages.  So, your “100 MA” is really the 8 (and a third) -day moving average in the 2-hour chart.

    [ Edited: 10 September 2012 08:37 PM by Mav ]

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
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    Posted: 10 September 2012 08:51 PM #1373

    Mav - 10 September 2012 08:35 PM

    Wait wait wait.

    100-day?  Or 100 time interval (time periods)?

    If you’re on a 2-hour chart, it doesn’t go back 100 days.  It _would_ allow for 200-hour moving averages.  So, your “100 MA” is really the 8 (and a third) -day moving average in the 2-hour chart.

    I was confused now I’m baffled.

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    Waiting to be included in one of Apple’s target markets, but I still own an iPod, iPhone and iMac and APPL stock.

         
  • Posted: 10 September 2012 09:34 PM #1374

    Don’t feel badly about being confused or baffled…..I try to follow along and now I am completely lost.  I don’t know whether I should be applauding or crying.

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    Posted: 11 September 2012 12:07 AM #1375

    LOL!  I know it’s confusing in the beginning.  Mav has it right.  Translating Mav-speak…

    SMA = standard moving average
    EMA = exponential moving average

    Those averages differ depending on the timeframe.  For example, SMA-20 will be 20-bars in whatever timeframe.  So “daily SMA-20” refers ONLY to the daily chart—each point on the daily chart’s SMA-20 line is the average of the previous 20 days.  Likewise, on a 1-hour chart, SMA-20 refers to the last 20 hours.

    The following comprise my standard “template,” that I use across all timeframes: EMA-13, SMA-20, SMA-50, SMA-100, SMA-200.  During the intraday, I watch every tick on the 1-minute and the 5-minute charts.  In my trading group, we do a running commentary as we spot stuff, so a common phrase would be: testing SMA-20 on the 1-min.  Or: testing SMA-50 on the 5-min.

    The main takeaway of moving averages is this…  It’s bullish when the shorter SMAs are above the longer SMAs…e.g., if SMA-20 is higher than SMA-50.  Conversely, it’s bearish when the shorter SMAs are below the longer SMAs…e.g., SMA-20 lower than SMA-50.  It’s bullish when price is ABOVE the moving averages, bearish below.  This applies to ALL timeframes.  Sometimes, a stock’s bearish in one timeframe, but bullish on another.  That’s why I like to zoom in and out…I want to see how the little picture fits in the big picture.  Sometimes, the little picture ripples out to the big picture.  Other times, the big picture dictates.  When everything’s aligned—bullish on many timeframes, or bearish on many timeframes—that’s a STRONG signal.

         
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    Posted: 11 September 2012 12:10 AM #1376

    rickag - 10 September 2012 08:26 PM

    lovemyipad,  thank goodness you grade on a curve.  smile
    lovemyipad, thank you for the graph. I’m supposing the 100 day SMA may represent a short term low?

    So here…teminology…  We’re talking about “SMA-100 on the 2H chart.”  That’s a different number than “SMA-100 on the daily chart.”  The latter you can call “100-day SMA.”  But for the 2H chart, you call that: “SMA-100 on the 2H.”  There’s no “day” in there.  No “day” unless you’re talking about the daily chart.

    And yes, just looking at the chart, it appears the candlestick wants to fall right into that pink net.  We shall see though… smile

         
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    Posted: 11 September 2012 01:21 AM #1377

    So basically, units of time.  Whatever the chart time interval is times 8, 21, 50, 100, 200.

    So when technicians talk about the 8-day, 13-day, 21-day, whatever, it’s ALWAYS the daily chart, which is one of the most useful timeframes for reasons iPad knows far better than I do.

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
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    Posted: 11 September 2012 07:22 AM #1378

    lovemyipad / Mav
    Thank you for the explanations.

    Now to plan for this morning. Good luck hunting smile

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    Waiting to be included in one of Apple’s target markets, but I still own an iPod, iPhone and iMac and APPL stock.

         
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    Posted: 11 September 2012 10:03 AM #1379

    Interesting quote from some dude named McCellan

    MARKET TALK: Apple ‘Key Reversals’ Haven’t Been Too Reliable

    9:06 EDT - Bears shouldn’t get so giddy about Apple’s (AAPL) “key reversal.” Apple gapped up at Monday’s open, rose to another all-time high and then reversed to close below Friday’s intraday low. It’s normally a pretty-reliable reversal pattern, but McClellan Market Report’s Tom McClellan notes, “Key reversal bars do not have that good of a record” for AAPL. For example, a picture-perfect one appeared Feb. 15, but AAPL reversed early losses to close up the next day, following by a 9.4% rise the next two weeks. For the stock, short- term gap support starts around $648-650, followed by $636-639. And the 50-day moving average is $628.64. AAPL is up 0.4% premarket at $665.28. (tomi.kilgore@ dowjones.com)

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    Posted: 11 September 2012 05:13 PM #1380

    stkstalker - 11 September 2012 10:03 AM

    Interesting quote from some dude named McCellan

    MARKET TALK: Apple ‘Key Reversals’ Haven’t Been Too Reliable

    9:06 EDT - Bears shouldn’t get so giddy about Apple’s (AAPL) “key reversal.” Apple gapped up at Monday’s open, rose to another all-time high and then reversed to close below Friday’s intraday low. It’s normally a pretty-reliable reversal pattern, but McClellan Market Report’s Tom McClellan notes, “Key reversal bars do not have that good of a record” for AAPL. For example, a picture-perfect one appeared Feb. 15, but AAPL reversed early losses to close up the next day, following by a 9.4% rise the next two weeks. For the stock, short- term gap support starts around $648-650, followed by $636-639. And the 50-day moving average is $628.64. AAPL is up 0.4% premarket at $665.28. (tomi.kilgore@ dowjones.com)

    stkstalker, thanks for the blurb—very true, IMHO!!

    I think of it like this: reversal signs don’t always work for AAPL, but AAPL rarely reverses without them.