But it sure is acting like a bounce and it basically was a bounce in the sense that it got very close and then resumed its uptrend and has gained 14 percent, since that last dip apple has continually bounced off this long term. Uptrending support line now it’s pretty far off support, so it’s, essentially a bit overextended. It may still approach the all time high set back on january 25th and exceeded, although it’s only about four percent away from the all time. High it’s very overextended it’s had such a long trajectory since the beginning of june that i would be surprised if it just continued up and up and up. I would expect more of a bit of a consolidation, maybe some sideways action. Of course, i’m. Just speculating here and the ultimate evidence for any indicator is going to be the price action plus volume, so friday’s price action was accompanied by good, solid volume, it’s at least average volume and demonstrated an increase of volume over the last several days. So this is still bullish, it’s, not incredibly bullish, because we’ve had much bigger, strong volume days, accompanied by upper price action and that’s. What gives me the sense that we’re starting to top out? Basically again, i would not be surprised if we had some sideways price action or maybe even start to return to revisit this lower support here, even if it doesn’t quite hit it because it seems like it’s on a pretty solid bullish trajectory right now and unless some Kind of news or cataclysmic event occurs and when i say cataclysmic event, i mean a crash or a major correction of the any of the indices.

Then i would expect, overall, this bullish trend to continue, although it may be a bumpy ride and we have had a quite bumpy ride for quite a while, even though it’s never breached this support. We’Ve had a lot of ups and downs and if we do start to approach this support again, if it does not breach we’ll get a good bounce and we’ll know if it’s a good bounce, because if it bounces on strong volume, that’s an excellent indicator and the Most likely direction will be for it to continue upwards until then i’m going to rest easy at the moment, because, as it gets closer to this all time high, i get a little more nervous about investing. So i will wait to see over the next few days where the apple price action goes and how the volume that accompanies that price action supports it or does not support it. I’M cautiously optimistic that it will continue moving upward. If we get another spike tomorrow and on strong volume, then it tells me that the bulls want this to make a new high a new all time high, and if that happens, then it could be a buying opportunity. I personally prefer to buy on bounces, so the opportunity to buy was a while back in the beginning of june, so a month late, if you didn’t get into it, doesn’t mean you couldn’t get into it now, but i think the chances of it going down are Probably greater than the chances of it going up and that’s just speculation on my part, but the chances of it going up after it’s bounced on strong volume are very high.

And i personally prefer to wait for some kind of a bounce on strong volume. And that is a golden opportunity to buy.