AAPL - starting to look ugly again

Apple had a rough day, even though the main market was only a mere 0.5% lower in general. Since earnings last Tuesday AH, AAPL is down over $35 from the peak - which interestingly was none other than a black-doom candle, very much warning of a failed gap/rally.


AAPL, daily

Bears need to see a break below the recent 580 support level - which has already failed of course. So..it would seem unlikely that 580 will hold. In which case first target for AAPL would be the previous low of 555. A break of 555, would arguably open the door to a big move to $500.*

*such a move/outlook in the near term for AAPL would be suggestive of a break in the SP <1340..and probably sub'1300.

So..keep an eye on AAPL, as many often note ...AAPL is the Market these days.