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AAPL Does Not Participate Much in Today's Rally


On the one hand, it is amazing that Apple Inc. (AAPL) is not much higher, in sympathy with the strong rally in the overall market. On the other, let's notice the very powerful downtrend that continues to create massive headwinds for any rally in AAPL, and AAPL has yet to smack into or probe the really heavy resistance between 606 and 612.

While AAPL from a bar chart, intraday pattern performance has established a series of spike lows at 585.10 and at 588 or so, its inability to scare the shorts so far suggests that it is has not put in a significant low or bottom just yet.

If this is accurate it means that after today's recovery rally runs its course, AAPL should roll over again into a nosedive that presses towards 580 next.

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