AAPL

Selling in AAPL could very well pick up into the close with the NASDAQ rebalancing to cut AAPL's weight nearly in half, we'll see. For now the 5 min negative divergence has sent it lower.

Here's a common market trick, an obvious support line (red) is broken, this draws in shorts, at the same time the short sellers we're active on the break, institutional money uses their selling demand to accumulate a small position. When AAPL moves back above the trendline, the short seller's losses/covering produce more demand allowing institutional money to effectively make a nice little profit without having to do much of anything to kick start the bounce. It seems they have unloaded those shares and most likely have started some shorts. These false breakdowns/breakouts are such a common occurrence these days because of the predictability of retail traders, that it makes Wall Street somewhat predictable. I'll stick with my guess that 85% of reversals start with some sort of false move. Think of it as the tinder that ignites the fire. 10 years ago or so, when technical analysis started to get popular and more people managed their own accounts (technical analysis worked a lot more like the books say it should), institutional money was usually forced to kick start rallies or declines with their own money, either producing a volume surge or selling enough to push a stock below a technical level, which of course ate into their profits on the positions. It just doesn't hold up anymore and they've adapted, retail traders still haven't adapted years later. A lot of people believe the allure of technical analysis was laziness, in some ways I think I agree. Just watching the charts you can see how the market has transformed itself, yet retail traders haven't-that's laziness.