AAPL - getting stuck in the low $500s

Despite the main market pushing back upward, AAPL was relatively subdued, closing +0.1% @ $502, with a range of 505/498. Near term trend remains bullish, but AAPL is looking tired after a significant ramp from the April low in the $380s.


AAPL, daily

Summary

*my main market outlook is for a small bounce to the sp'1680s. That might mean AAPL simply doesn't make any new highs, but merely trades in a choppy fashion for the next 2-4 days.

If the main market does continue to broadly decline into mid-September - sp'1600/1575, then AAPL should at least pull lower to the $450s, where the 50 day MA will be lurking.

Underlying MACD (blue bar histogram) cycle ticked lower for the third day, although there is no definitive bearish cross...yet. That looks likely by middle of next week.