With US equities seeing a severe late day reversal, Apple (AAPL) lost almost all of its opening gains (intra high $111.11), settling +0.2% @ $103.32. Near term outlook is uncertain, and will be dependent on whether the market can immediately resume upward from sp'1867
Suffice to note, AAPL sure has seen some crazy price action lately. With the Monday opening flash print of $92.. AAPL then soared to a Tuesday open in the $111s.
Today's close was a mixed one. The daily black-fail candle is certainly bearish, and bodes for sub $100.. if sp' can't hold the Monday low of 1867. However, for now.. we do have a significant higher low.
The bigger monthly cycle has been suggestive of $90 since the key break of August 3rd. All things considered, I'd expect at least a return to the low 90s.. in Sept/Oct.
*I am long-AAPL from the $107s, earlier this afternoon, seeking an initial exit in the 109/111 zone.. but with today's bearish close... a profitable exit seems out of range for at least 2-3 days.