The head-and-shoulders pattern that AAPL has traced out since Thanksgiving is so commanding at this point that there’s no point in using Hidden Pivot patterns to try to improve the forecast. The selloff will need to hit 158 or so to round out the pattern visually, with additional room all the way down to around 147 if bears mean business.  We shouldn’t rule out the distant-longshot bet entirely, however. That would call for a sharp reversal from 160 or above that just keeps going. A rally with sticking power would be telegraphed by minor rallies that shred their d targets. Whatever happens, AAPL continues to be the perfect proxy for institutional mindset, ambition, folly and greed. _______ UPDATE (Jan 24, 8:23 p.m.): Today’s exhilarating plunge to 154.70 made the head-and-shoulders pattern look even more compelling. It amounts to mountainous supply, so we’ll focus on ways to get short, or perhaps long in order to make a few bucks ahead of the next downturn. Stay tuned to the chat room for a timelier perspective.