AAPL - weak, weak...WEAK !

Apple (AAPL) closed significantly lower, -3.1%, settling in the $428s. Near term trend looks very weak, and a test of the March'4 low in the $419s is now easily within range. Considering the indexes look set to fall across April/May, AAPL will likely be trading in the mid 300s by early summer.


AAPL, daily

Summary

A pretty lousy way to start the second quarter, with AAPL falling for the fourth consecutive day.

*I'm guessing the indexes could see a few days higher across Tue/Wed, but even if that is the case, the mid-term outlook on AAPL looks particularly weak.

The next big level of $400 looks likely to be breached within the next few weeks, but regardless of when...if the main market is 5-7% lower by early May, then we're surely looking at AAPL trading in the mid 300s..which is a rather bizarre thing to consider.

AAPL remains one to watch, and will be a good guide for the broader tech sector into the early summer.