$AAPL was in a “Go” trend since the beginning of May.
After the most recent highs, we saw Go Countertrend Correction Icons (red arrows) telling us that price may struggle to go higher in the short term. Indeed, we then saw a string of uninterrupted weaker aqua “Go” bars and GoNoGo Oscillator fell to test the zero line from above. After a few days stuck at that level, it broke down into negative territory out of a small GoNoGo Squeeze. After price attempted to hold at support from a prior high, it gapped lower and we saw an amber “Go Fish” bar as GoNoGo Oscillator was rejected by the zero level. Yesterday, GoNoGo Trend painted a first “NoGo” bar. With momentum surging in the direction of the new “NoGo”, we will look for price to move lower over the next days and weeks.
