So here is a detailed technical assessment of AAPL.
The daily is projecting a limbo state. Not surprising given the strong fundamentals of Apple, but the crappy macro-environment. I will try to take advantage of this limbo as Apple's strong showing of the iPad 2 will lead all analysts to up their estimates. (Prior to the iPad 2 earnings forecasts were not projecting the kind of acceleration we saw this weekend.)
To me, the CCI is indicating the limbo, while the Slow STO set-up projects a high probability of a potential thrust downward.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjx_ZN8w0LSI3IPbs5ZterXJApuKQ0zuZre1vQh3WT3ygJdqCqw8abybMmAJ6bX3e4MUkgmcItx2XUpQmi8OYwU-4c2WklLFgLfuxPGdHESWiBb4nv_L78Za0rPejz_sYAziV-mHS9sJ9Q/s400/sc.png)
If a thrust downward is to happen, there is support around 347-348 via the weekly SMA.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQF_Wuau0L12_Z1GfhZYVHSul7nc8_dw22KG7hZSOOeRoX2teSCqrEr9-5vfA8q47zyy7IxDZt0MtH01DFy8JhLvWWV1-nFRwtxO_ml1pfJocjgg8YwZtqx8Mzofas7p6Y49uV-R7YjI8/s400/sc-1.png)
I was comfortable adding to my position on the weakness today, and am prepared to add in the high 340s. But due to the demand of the iPad 2, I find it very interesting that the market is allowing AAPL to enter the 340s again.
With next quarter's earnings, and a PE of 19, AAPL will be at 377. (Look at the forward PE link, under links, and these numbers did not factor in the iPad 2 rate of growth.)
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