Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Apple (AAPL) is now down well over 10% from the highs of just over two weeks ago. It is obviously the most watched stock out there and is causing a lot more damage in the NASDAQ then we’re seeing in the S&P 500. With a RSI in the 30s it should be approaching an oversold level soon. That said the technical picture of the stock in the intermediate term now looks a lot more iffy – of course with earnings around the corner that can change in a second but right now the marquee stock of the market is acting very punk.
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