AAPL - testing the 200 day MA

AAPL managed a brief test of the declining 200 day MA in the $471s. With the main market weak across the day, AAPL closed -0.9% @ $465. Near term trend is still broadly bullish, but a few more daily closes <$470, will bode for a multi-week down cycle into September.


AAPL, daily

Summary

*My main market outlook is for a multi-week down cycle beginning this week.

It would seem AAPL is syncing up with the main market, and whilst the main indexes are starting to max out, AAPL is getting stuck at what is a very important MA.

Downside for Sept? If sp'<1600, AAPL looks set to at least decline to $420, if not a second big test of the late April low in the $380s.

Best guess though, the April low will not be breached.