AAPL Analysis

This probably explains a lot when looking at the XLK (technology) / QQQ 3C charts from the last post...

 The price candle alone looks like a distribution/Churning day with the long upper wick and a close at the lows of the day. Equally impressive is the volume which is the largest single day volume since January 18 of 2011, well over a year.

 This 15 min chart since that day looks like a bear pennant (technically it isn't because of the preceding trend, but it still carries a bearish slant).

 Today's intraday performance has been terrible, it's in the red , way underperforming any of the averages.

While the 2 min chart picked up the divergence, it didn't register as a huge event, 3C trade since has  been quite negative.

 Jump to the longer term charts and it was registered as a big event, both the 30 min above and 60 min below were very negative at that high and continue to deteriorate.

I've spoken of "the back of the trend having been broken", this is about as close as you come to that definition in AAPL with subsequent trade simply looking like a bearish consolidation.

Now we know what's up with the NASDAQ 100 given AAPL's weight.