#AAPL Bias Update and Levels for Wednsday, September 16, 2015
AAPL is still
holding above last’s week’s value area high (VAH) +113.30 post Monday’s iphone sales headline and now seems to just be
stalled while in wait mode for the FOMC rate decision.
If not for the potential of a rate decision game changer tomorrow
my bias would be in definite favor to the Long side while holding above Daily center
Sigma and last week’s value area low (VAL) at 111s/110s; with potential to reach the first resistance I mentioned
on Monday at 122s, which is also a
+3Sigma target.
However unless above 125s/126s
(if a breach above 122s post rate
decision) my bias will definitely flip to bearish with potential to reach the
-3Sigma target at 101s/100s
especially once/if below 109.50 then
below the low volume area (LVA) at 104s.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
