So AAPL reported yesterday evening. All but one minor number exceeded expectations. This is a fabulous money making machine. Their gross margins are unheard of, their metrics like P/E etc, at the low or high end of where they should be. They are seriously looking at other enterprises (maybe) and just became members of the elite 30 DOW club ensuring that all the closet indexers are under invested. The cash pile they are sitting on is a dime away from $200 bln. which, by the way, is equal to the capitalization of Royal Dutch and may be used to buy back stock or other such nefarious things.
What is interesting here is not what happened, but what did not happen. Despite a few dollars up in overnight trading and early this morning, the stock is down on the day. There is also a very nice bearish engulfing candlestick pattern, which would fit with the triangle EW pattern. So far the stock has traded more below than above our recent sell level. Time will tell if this continues.