I mentioned in the chat room yesterday that it was mainly Apple that’s keeping me cautiously bullish on the broad averages. For that reason, we should pay very close attention to the stock, which sold off hard yesterday. Technically, AAPL has become a short on the lesser charts, although I’d rather buy bull spreads when it is approaching a pullback target. For now, though, the key support to watch is the microscopically subtle one at 598.40 that I’ve highlighted in the chart. Tiny though it be, it’s a full-fledged ‘external’ whose breach would hold bearish implications for the near-to intermediate-term.
