I've been warning about AAPL's deteriorating condition, now it's getting very serious which has consequences for the broader market.
AAPL currently is at a level which would be a new closing low since the March bounce, this wouldn't be good for AAPL or the market as it would most likely carry AAPL to its 3rd major trend lower low and definitively break any interpretation of AAPL's top.
The 15 min 3C for AAPL showed the March rally was indeed all about manipulating returns as it couldn't even confirm similar price levels marked at the start of the red arrow. The red box shows 3C moving into a new low on a negative leading divergence, even though price is higher then the mid-March lows. This is very negative behavior.
On another note, don't forget to take a look at yesterday's long trade idea, TZA.
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