Adding to the evidence that Apple is in a bear market is its inability to create robust impulse legs with each new thrust. This is compounded by the dueling, bearish legs that are following each half-hearted rally. We can try to short the stock at some point, perhaps by legging into a way-out-of-the-money calendar spread when the stock is pushing up against a Hidden Pivot rally target. For now, though, we’ll take a step back, since bulls could reinvigorate the larger intraday charts with the relatively short leap needed to surpass the two external peaks shown.
