The Nasdaq100 lives in a rectangle that has been build in the long-term chart (1w) above 4779.4. It seems at the moment want to go to the bottom of the drawer. Loss level would generate a lot of confusion, while above, just surpassing 4840 to keep climbing would find clean air.
The bearish harmonic pattern I mentioned in my previous analysis already generated nice gains as $AAPL's price declined from 108$ to below 106$ after hitting the PRZ.
Now AAPL is climbing again as investors prepare for Apple's announcement of new products scheduled for Sep 7th.
With rumors about delay in Iphone 7 launch and even rumors about postponing the Sep...
TRIANGLE PLAYING OUT. break may happen either side. GO SHORT WHEN RED LINE TOUCHES WITH STOP LOSS. Buy when price touches Green line (one lesser degree from 2004 support line), so plan to dump when needed. Go deep short if it fails to break the ultimate red line from the 2015 top. Using options strategy carefully.
