AAPL looks all but certain to reach the 158.55 rally target we’ve been using for the last few weeks. Will it overshoot the Hidden Pivot, presaging a possible test of March’s watershed high at 178? I doubt it, but we should be prepared for an outbreak of irrational exuberance nonetheless, since it would be short-covering all the way, impelled and manipulated by chimps who have lived on autopilot almost solely from AAPL’s long bull market. They were never going to just roll over, and what we are seeing is a distribution for which they have been conducting drills and test runs, starting with a stock split that brought the price down to a level that the rubes could afford.