AAPL is in a do or die type of situation. It currently shows an ideal bullish bat Fib pattern that marks 543 as the must hold level in order for us to see near term and intermediate trend reversal to the upside.
543 is the .886 retracement of the rally that began in Mid May 2012.
If we do not hold 543, it would bode *very* bearish for AAPL and the stock market as a whole.
Today we already did break under 543 closing at 525 and change. This is a near term bearish sign that the pattern is failing.
543 is the .886 retracement of the rally that began in Mid May 2012.
If we do not hold 543, it would bode *very* bearish for AAPL and the stock market as a whole.
Today we already did break under 543 closing at 525 and change. This is a near term bearish sign that the pattern is failing.