Apple shares were trading more than $30 higher when I put out a correction target at 555.29. That target was very closely approached this morning when a $20 dive hit a so-far low of 556.62. The fact that the stock has impulsed bullishly on the lesser charts without having quite achieved the target is prospectively bullish (albeit only mildly so) and suggests that a potentially important low is in. If so, that would be true for the market as a whole. Speculation aside, we’ll continue to monitor Apple’s vital signs very closely so that neither it nor Mr. Market has a snowball’s chance in hell of fooling us, not even for a day.
