AAPL...making higher highs

A few posts ago (actually here: APPL's curves don't look so great) I wrote about how the rounding top in AAPL is looking quite daunting and a fall below the 100day moving average will lead to much lower prices. I also mentioned that the only thing that would change my mind about that technical drop would be for the stock to make a higher high over its June highs.

Well yesterday AAPL did just that...made a higher high over $591.

This should lead to an extension to the upside - but watch for this price to act as an important pivot point in the next few days if the stock happens to not explode higher from here. Although the stock did make a higher high, its real test will come if price can hold over that important mark in the next few days. If so, then the AAPL gravy train should make many holders very very happy in the weeks and months ahead...but if not, and the stock were to fall back below $591 on heavy volume and more importantly below its 100day moving average, then the fall to previously mentioned levels will likely be near.