I want to say this before you get to the chart:
AAPL is now taking part in low probability events on a technical basis. Today’s move down should not have occurred. Or rather, it was a very low probability event. When a company that previously went out of its way to behave predictably starts behaving erratically, it is a sign that the drivers of price that existed before have dissipated. This is an intermediate to long-term negative for AAPL.
It goes far beyond whether AAPL will close at 520 or 580 tomorrow. It tells of a stock that may be in a period of long-term sluggish behavior…..at best.
The next few days are huge from a price action perspective.
click chart to enlarge
AAPL
