AAPL's 4 Sigma Bounce Is The Second Biggest In Two Years

Tyler Durden's picture

Today's AAPL move, on no news, is as of this moment a $35+ move in one trading session, or a $30+ billion market cap move in one trading session, and a nearly $60 move from the Friday lows. As the histogram below shows, in absolute terms, this is the second largest intraday move up in the stock in the past two years, and a 4 sigma move for a stock which has moved 7% on a 1.7% standard deviation, for no other reason than the "stock is oversold" or whatever other narrative those who put narratives to stock moves have ascribed to it today. And with HFT's determining valuation based on momentum, RSI, Bollinger bands, and other meaningless New Normal technicals, we have just gone from massively oversold, to massively-er overbought.

 

The percetage rise from yesterday's low to today's highs is incredibly dramatic - has happened only twice from the lows in 2009 (and one of those was the fiscal cliff) and after erach, the stock tumbled quite considerably (unable to hold the gains)...

 

and the current level is a critical VWAP test...

 

What lies in the stock's future? Nobody knows, at least not until the rear view mirror provides a narrative plot line, but one thing is for sure: much more yoyo-ing is coming.