AAPL - major failure..sub $400 looms

Whilst the rest of the equity market continues to climb, Apple (APPL) closed lower for the second day, -0.6% @ $451. AAPL is at key declining resistance, and so far..its failing. If it doesn't break into the $460s by the Friday close, it bodes very badly for the spring.


AAPL, daily

Summary

Lets be clear, relative to a great deal of the other 'junk' out there, AAPL is one of the better companies out there. Yet, it has a truck load of money in the bank, and management seems utterly incapable of deciding what to do with it.

Near term MACD (blue bar histogram) cycle is still ticking higher, but its looking very much like a rollover is going to begin within the next few trading days.

A weekly close in the 440s should be decisive enough to confirm yet another fail to clear key resistance.

AAPL sub $400 looks viable within a few weeks...and then the only issue is just where in the 300s it level out.