AAPL - a long way to fall

With US equity indexes closing significantly lower, Apple (AAPL) was similarly on the slide, settling -2.0% @ $100.67. Near term outlook is for further downside. More broadly, AAPL looks set to test and eventually break below the Aug'2015 flash print of $92.00, after that.. next support is the 38% fib retrace (from 2009) of the $85s.


AAPL, daily

AAPL, monthly

Summary

Last week I noted that price structure for AAPL didn't look so pretty. The bear flag played out, and AAPL is seemingly headed (at least) to the Aug' low of $92.

If you believe the sp'500 is headed for the 1600s this summer, then AAPL is on track for next key support around $55. I realise that is a long... long way down though, and for now, it is in the realm of 'crazy talk'.
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*I've no position, and at these levels, shorting AAPL looks a somewhat more risky idea that just shorting an index.