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AAPL Gives Up After Days of Attempting to Hold 96-92 Support. Where to Next?


Today's weakness has pressed Apple Inc. (AAPL) to a new two-year low at 90.57, which takes out prior important lows in the 92 area from Jan-Feb 2016, and the wicked down-spike to 92.00 that occurred on Aug 24, 2015.

In that a supposedly important support plateau in and around 92.00 has been violated, now we have to see if downside follow-through unfolds.

If it does, then the next optimal, downside target zone projects to 85.00-83.00, from where I will be looking for technical signals that the "downside flush" is complete.

Conversely, in the absence of a sustained flush out, only a sustained climb above 93.40 will argue that AAPL has established a head-fake, bear-trap low that concludes the entire downleg from the April 14, 2014 high at 112.38.

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