AAPL - another lousy month

Apple (AAPL) closed the day a little lower, but across the month, AAPL lost 14%. This is the biggest monthly fall since the collapse wave of Sept'2008. The monthly charts show no sign of the down trend ending, but a multi-month bounce into the early summer would seem very reasonable.


AAPL, daily

AAPL, monthly

Summary

Suffice to say, the near term trend is still downward - pressured by the more important monthly trend.

Yet, a multi-month bounce into the late spring/early summer does seem very likely.

For the doomer bears out there - not least those seeking an index fractal similar to 2007-09, they should be seeking AAPL to see a significant bounce....but then putting in a critical lower high.

Long term target would seem to now be somewhere in the low 300s..late 2013/early 2014.