Much like the market, Apple
essentially opened on the highs only to leg lower throughout the day. We can see we failed to tag the highs we made back on Friday putting in a lower high on the 30 minute. If we measure the impulse leg from this last push higher you can see we potentially have a nice measured move setting up to 460 IF we can hold todays
lows going forward and IF we can take out fridays highs. Apple
certainly has its work cut out for it on the long side. As for the downside. Todays
lows are important as we don't want to slide back into this choppy range. Once was fine, but twice will definitely cause me to notch down my bullishness on this name. Per lately I remain flat but cautiously optimistic.