Just in case we let ourselves get all excited about the Apple Inc. (AAPL) bounce from yesterday's low at 442.80 to this morning's high at 451.60, this chart puts it into perspective.
It warns us that the prior significant recovery rally, from 435 on Jan 25 to 484.94 on Feb 11, likely represented a completed counter trend move.
In addition, everything since Feb 11 is the unwinding of a new downleg that looks like it has unfinished business on the downside.
If my pattern analysis proves reasonably accurate, then AAPL remains vulnerable to weakness that revisits 435, which, if violated, points to 428-425, and then 392-385.
At this juncture, from an intermediate-term perspective, AAPL must climb above its dominant down trend line, now in the vicinity of 477 to regain significant upside traction.