AAPL - a new historic high

Apple (AAPL) broke a new historic high of $163.12, settling +0.9% at $162.91. Near term outlook offers further upside to the 164/65s. Once the Sept'12th product announcement is out of the way, the stock will be highly vulnerable into early Oct'. Core monthly support from early Oct' onward will be around 145/40.


AAPL daily

AAPL monthly

Summary

The main market's swing from an early low of sp'2428 to '49 was pretty incredible - relative to the most recent news about NK. Yet, AAPL still managed to break a new historic high. The near/mid/long term trend is clearly outright bullish.

Things would only turn bearish with a monthly close under the key 10MA, which as of end Oct', will be around 145/40.

On balance... there will no bearish monthy closes for AAPL this autumn. Once we're into November, the bulls would have clear air all the way into late spring 2018, at which point the $200s aren't even that much of a stretch.
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Traders were notably buying the weekly (Sept'1st exp') $160 calls this morning...

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