Friday, May 4, 2012

Apple not looking good

Apple looks like it is about to roll over to the downside. It is having a problem finding buyers on the 50 day moving average. Tom Demark's monthly low pivot point is where Apple found support in April(see earlier posts below). This week it is testing the new(May) Demark's monthly low pivot(DML) at $579. Will that be the low again? 

The monthly pivot / 20 day at $595 is now resistance and the monthly S1 pivot point at $545 is next support if $579 breaks. There are open gap's at $562 and $545 that need filling.