AAPL Update

The positive divergence from AAPL last week before the I-phone 5 release wasn't all that big, it was big enough for a swing move, but surprisingly it wasn't much bigger.

The same 5 min chart that gave the positive signal has been languishing as it has since turned negative. I'm seeing AAPL diverge from the S&P in terms of relative performance this morning, but even more surprising given its weight, it's diverging just as much from the NASDAQ 100. I'm especially interested to see what happens below $700 and $699.50.

Actually as I am writing, AAPL just broke under $700.

 As was the standard Monday, I'd still like to see this 5 min hart break to a new leading negative low.

 AAPL (green) vs the QQQ

 AAPL vs the SPY

The trend line was around the $700 area, that is now broken with a slight uptick in volume, the stops are going to be around $699.50 and I'd like to see what happens when those stops are hit.