aapl jumped out of its cup at the end of April, with a considerable gap.
Usually a stock goes back to the gap to test it, shaping a handle. This hasn't happenened yet with aapl, as a foam party was going on in the US-markets that hasn't seen a consolidation since over a month, which hasn't happened since eighty years...
Of course present news and expectations are exerting upward pressure. However, markets altogether are getting tired. DJ and Nas are waiting for a correction. European markets today are red, altogether, they show the largest red candle since two months. MACD histogramms announced a correction since some days already.
aapl has space to move down, without leaving its midterm channel. It has already left its present short-term channel on two occasions, to the downside, but jumped back into it, after a few days. That's what I expect it to do in the next days.
There will be a strong resistance at 99, as that gap up was established with authoritative volume.
All of the above said becomes invalid, however, if the bears grasp the market, as it happened in spring/summer 2006. Then, no share is exempt from the downturn.
