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AAPL Hits Next Optimal Downside Target


Apple Inc. (AAPL) has declined into my preferred target zone of 620-610 with an intraday low of 615.64.

My near-term work argues that AAPL could bounce violently at just about any time from the 620-610 area, but that in all likelihood it will not represent the low ahead of a new upleg.

For now, let's just expect some two-way volatility in AAPL. A climb that prints 622 will trigger a new up-column of blue Xs, which will confirm that AAPL is in a counter-trend rally process that could climb to test 628-632 resistance.

Inability of AAPL to print 622 to trigger a column of X's will be a very dangerous sign, especially as we approach a Friday close, with the stock and the market under extreme pressure.

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