Apple has received a lot of press - good and bad - this month. Its launch of iPhone 6 was met with great fanfare but that dissipated as reports surfaced that the devices were bending too much and operating systems updates were rife with problems. Market chatter that Brussels may fine Apple over EU taxation issues surfaced over the past few days but Apple has shaken off these fundamentals for the most part.
In the Daily chart below, we have added arrows to show how often Apple's Daily Highs and Lows have coincided with key retracement levels related to the September intramonth range.
In the Weekly chart below,we see how the Weekly low earlier in September was right at a key retracement level, and we see how subsequent Highs and Lows have been near key retracement areas.
In this Monthly chart below, we see how our previous extension retracement level of 104.29 (from the April 2013 - January 2014 range) was a very reliable upside target in September.
Given its impact on pop culture and technology, Apple will continue to receive a disproportionate amount of attention to its fundamentals, though it is clear that this company has been a great technical trade.
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