Apple gave up all of Friday’s opening-hour rally, but without generating a bearish impulse leg on the relapse. The 124.52 downside target remains valid nonetheless if the weakness continues, but we shouldn’t overlook the bullish alternative that would be implied if buyers trip a signal at x. _______ UPDATE (10:45 p.m. EDT): Monday’s rally peaked 8 cents from a minor rally target at 129.49. The subsequent downtrend created a bearish impulse leg on the 15-minute chart (A=129.57 at 2:00 p.m.), but it has yet to give way to a CD leg that could provide a p midpoint pivot worth bottom-fishing.
