APPL Ignores the Reaction to JPM
|AAPL-- as we discussed last evening, AAPL is NOT participating in today's rip-your-face-off rally in reaction to big bank earnings and good news on the Chinese economy, the latter of which should be supportive news for AAPL. This reinforces my technical work that argues AAPL is at or nearing upside exhaustion after its advance from 142 to 202.85 (+43%), and as such, is ripe for a correction.
All eyes on nearest term support at 196.00, which if violated, will point towards 186-188 thereafter, as AAPL tests the integrity of its January-April up trendline... Last is 198.26/27.
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