DANGEROUS APPLE CHART PATTERN INTO IPHONE 5 LAUNCH

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Apple AAPL will launch iPhone 5 on September 12, 2012. It is widely expected that this will be the biggest consumer product launch ever.

Leading into iPhone 5 launch, Apple chart has traced a dangerous pattern. Monday’s bar on Apple chart is known as “outside day.” An outside day is characterized by a high higher than that of the previous day and the low lower than that of the previous day. An outside day is considered especially ominous if the close is near the day’s low and the outside day happens after a sustained bull run. This is exactly the pattern Apple stock has traced out on the chart.

 The computers at The Arora Report calculate money flow by subtracting the dollar amount of the stock traded on downticks from the dollar amount of the stock traded on the upticks.

On this outside day the net money flow was negative $75.16 million.

A significant refinement of money flow is our proprietary Smart Money Indicator. In our parlance, Smart Money refers to ultra-sophisticated investors who know more, who know early, and who have more analysis power at their disposal.

Monday Smart Money was a net seller of $181.16 million of Apple stock.

Apple stock price typically runs up into a major product launch and then swoons after the launch. The launch of iPhone 4S was an exception. Siri created such excitement that the stock kept on rising.

It is not typical for Apple stock to experience an outside day with Smart Money selling into a major product launch….Read more at MarketWatch

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