SPY Bear Flag -- Caution

This market could go much weaker with SPY forming a bearish flag formation.  Breakdown could see 106.74, the S3 @ 102.20.  Trade with caution and trade quickly. RSI and STO are also declining.

$AAPL Bull Flag

We got a bull flag on the 1 minute and 5 minute chart setting up.

This is bullish look for BO ouf 1 minute to test resistance of the 5 minute.  Next resistance after is overhead downtrend line.

AAPL Earnings Swing Play

This Daily chart of $AAPL shows a consolidation pattern forming.  A breakout to the upside I believe ill be coming in the next few days on IPhone announcement, barring any software or technical errors.  At which point I Believe $AAPL will trade within the boxes in the chart until the upcoming earnings call.  Which should move the stock price up in anticipation.  $AAPL will become a long swing when it breaks out above 422.85 (previous high).

My Trading Plan:  will go long on consolidation BO, bc I believe it will re-test highs : target 420.  Then it should consolidate within the green box before taking out previous highs in earnings move.

I am also LONG Oct. 22, 2011 395 @ 17.70 for earnings push.  Might let these expire, or cash out early.

AAPL Intraday Chart

AAPL has been trading predictably over the last few hours holding previous Supp./Rest. levels.

My next long entry is a Limit Buy Order @ 406.01 looking for quick move for +.80

Verified Apple ( $AAPL ) Trades Reviewed

Used the daily chart to see that $AAPL was coming down to its 20 day moving average 38.2 retrace, so I played the bounce or fail.  It is important to also note, that Apple tanked early today some crap report by JP Morgan that Apple was slowing down production in China.  Some things of note about this: 1. Analyst said he expected no impact on sales 2. The fact that Apple had just announced new plant in Brazil 3.The fact that Apple had UPPED its production in order to meet upcoming Holiday demand.  This is an example of the Big Boys manipulating the stock in order for them to buy cheaper.  LESSON: AVOID THE NOISE!

Click Chart to Expand

On the 5 minute chart I highlight my thoughts throughout the day as I traded $AAPL, netting nice gains along the way, securing profits, and swinging a piece.

Click Chart to Expand

I am also Long $AAPL via Oct 22 395 @ 17.70 Calls.  I sold 3/4 of these today that I picked up near the bottom and let them go for a small gain @ 18.10, but I will swing 5 Calls into earnings with the upcoming Presser on Oct. 4 were one would assume $AAPL is unveiling its new Iphones (yes plural IPhone 4s and IPhone 5 i believe), so I think this stock can really run and in my opinion challenge its previous Highs.

Click to Expand