Oh... Earnings may explain these two charts of AAPL

 The more important AAPL 60 min has been in an ever worsening leading negative divergence, this is one of the fastest, ugliest 60 min leading negatives I've seen in a long time.

The shorter term 15 min which is leading positive represents the near term, typically swing trade length. The 60 min in the condition it is in, represents a reversal of AAPL's trend.

This may make some sense upon first look at earnings (try to recall the earlier post about earnings/guidance/sentiment).

AAPL beats on revenue and EPS, pretty solid.

• APPLE 2Q REV. $39.19B, EST. $36.87B
• APPLE 2Q EPS $12.30, EST. $10.02
• APPLE SOLD 35.1 MILLION IPHONES IN QTR, EST. 31.2M   
• APPLE 2Q IPOD UNITS SOLD 7.7MLN , DOWN 15%            
• APPLE 2Q IPAD UNITS SOLD 11.8MLN                      
• APPLE 2Q GROSS MARGIN 47.4%, EST. 42.8%              
• APPLE 2Q MACINTOSH UNITS SOLD 4MLN , UP 7%            

AAPL Guides lower.... 

• APPLE SEES 3Q REV. ABOUT $34B, EST. $37.49B
• APPLE SEES 3Q EPS ABOUT $8.68, EST. $9.96    

AAPL is well known for conservative guidance, this however may be the perception that changes not only AAPL, but the market.