Since June 2015, Apple stock
has carved out a large head and shoulders
pattern. This is a classic bearish
setup. This week, it took out the neckline at 104.63. Any rallies were quickly sold off and a weak psychological support at $100 is currently under assault and is all that's keeping it from crashing through to the low 90s where the 200 week moving average lies. If that fails to hold, the equity
markets are in big trouble. The last time AAPL
traded under that moving average was during the Lehman crisis.