AAPL – Apple Computer (Last:671.80)

AAPL’s recent low fell within less than $1 of a d correction target at 649.74.  The fact that the stock reversed from d instead of p is mildly bearish, but we’ll wait to see how well it performs on this bounce before we infer the worst. So far, the rally is unimpressive, having required a pullback and a running start to get past a middling ‘external’ peak on the 15-minute chart (see inset).  The target of the move is 680.57, but the stock failed by a few pennies yesterday to vault the 671.90 midpoint.