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AAPL Reverses: Will The Strength Sustain?


Although Apple Inc. (AAPL) has recovered $21 and 4% from this morning's intraday low at 533.37, let's notice that the sharp advance has not inflicted any damage to the dominant downtrend yet.

To inflict some damage, AAPL must hurdle and sustain above 564.00.

Otherwise, this rally, as powerful as it is, is nothing more than a recovery bounce that likely is part of a bottoming process between 565 and 535 that will take some time and a some patience.

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