Apple- $150 upside target still in play!

appledualresistance150levelupdatefeb23CLICK ON CHART TO ENLARGE

The Power of the Pattern shared less than a month ago that Apple could reach the $150 (see post here).

At the time of the post, Apple was trading around $109 per share.  Less than a month later after that posting, Apple has rallied around 20%.

The Power of the Pattern has felt the $150 price was the upside target even back in November of 2014 (see post here).

Should the read be correct, the Power of the Pattern suggests that dual resistance (30-year channel resistance and Fibonacci 161% Extension) both meet at the $150 level. Investors might want to protect gains in Apple at this potential resistance zone!

 

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Sentiment hitting levels not seen since the 1970’s!

 

AAIIbullsbearsperyearfeb23

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The first table this morning looks at the American Association of Individual Investors (AAII), Bulls/Bears Per Year, since 1987.  So far this year, the largest percentage of investors feeling bullish is hitting the highest levels since 2004.  Also at this time, the lowest percentage of investors since 1999, are feeling bearish.

investorsintellgencebullsbearsperyearfeb23

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This table takes a look at Investors Intelligence (Advisors Sentiment). At this time the II survey is hitting bullish and bearish readings not seen since 1976.

householdspercentageofassetsinequitiesfeb23

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This table looks at the percentage of “Household and Non Profit Assets in Equities.” Currently around one-third of households assets are invested in the equities markets, reaching fairly high levels, only surpassed by levels hit in 2000.

Last night J.C. Parets mentioned that “Headlines are opinions and price is a fact!” Surveys also fall into the “opinions” category. I do respect opinions of investors and newsletter writers, they can be very helpful to us at extremes. My favorite way of making investment decisions is based upon the Power of the Pattern, which is based upon price.

At this time in the equities markets, long-term trends are above key moving averages and trend lines.  Should price start reflecting weakness, along with our Shoe Box Indicator, High Yields, Advance/Decline line, that is when I would become concerned, much more so than where these sentiment tables stand at this time.

 

 

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VIX- “Anti” Fear trade breaking out!

xivskyisntallingbreakoutfeb20CLICK ON CHART TO ENLARGE

When excess fear seems to be in the market, opportunities can crop up.  Of late the VIX index (fear trade) remained elevated for a good period of time. The “Anti” fear trade is owning XIV. Recently I shared with Premium Members that XIV looked to be on support and creating positive patterns.

XIV looks to be breaking above this bullish falling channel and the sky is falling crowd is shrinking. Full Disclosure; Premium members own XIV.

 

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