AAPL – Apple Computer (Last:168.81)

Our #1 stock-market bellwether could fall a further 9.6% if support at p=172.47 doesn’t hold. That is my minimum downside target for now, although I expect a tradeable bounce even if the stock eventually goes lower.  A decisive breach of p would send the stock down to as low as 160.11, presumably dragging the entire stock market with it. We should also remain open-minded to the possibility of a turn from p2=166.29, since that’s where just about everything has been reversing, even uptrends. Most bearish scenario of all: a two-day close beneath D=159.75. _______ UPDATE (Dec 6, 5:40 p.m. ET): The stock bounced from an obvious place, triggering a ‘counterintuitive’ buy signal that I’d drum-rolled earlier in the chat room. The move has immediate potential to at least p=177.76, but anything higher would put a 185.10 target in play. _______ UPDATE (Dec 7, 3:23  p.m.): 160.23, here we come!!! Click here for the chart. The stock will have a chance on the way down to bounce from 166.41, a secondary pivot that can be found on the 15-minute chart, where A=194.48 on 11/16. It is my minimum downside target for Monday. Alternatively, a push above 178.29 would turn the lesser charts impulsively bullish.