TM Editorial Update: Many readers wrote in asking about the “mysterious 117.28 trade.” It turns out the trade did not happen. It was an artifact of the options market that looked as if someone had bought $1.26 million worth of Apple for 2% above market price. No such trade occurred. This phantom trade however was posted as Apple’s 52-week high on financial sites around the Web — including Google and Yahoo — where it still stands two days later and as a result, creating the illusion of a Shooting Star pattern.
Big A** Shooting Star candlestick pattern on Apple. It’s a reversal pattern. A big one. Let’s see if it sticks. (I actually had a hilarious alternate way to offer up this sentence, but I shall refrain).
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