The somewhat obscure pattern I’ve been using to project a short-term downside target at 125.65 re-validated itself yesterday with a couple more precise bounces from the 128.25 midpoint pivot. Apple obviously doesn’t take kindly to getting kicked around, especially lower, and so it has been stubborn about giving ground here. It looks like it will, though, dragged lower by a stock market that has stalled. _______ UPDATE (9:18 p.m. EST): The low of yesterday’s $2.78 plunge came within 11 cents of my target. If you were short on the way down, or if you got aboard near the bottom, please let me know in the chat room so that I can establish a tracking position. The $1.17 bounce thus far will remain precarious until such time as AAPL pushes above 127.14. Otherwise, look for more slippage down to 125.55, give or take a penny or two.
