Just a quick heads up here that AAPL has broken its recent support and appears set to make a weekly close today BELOW the $620 cup with handle breakout point I've mentioned. Given the massive weekly MACD bearish divergence and earnings next week on AAPL, I think this is a good signal to apply to the general market as a GET OUT OF LONGS signal.
Daily uptrend lines since June are being broken today also in the S&P and Nasdaq Given the fact that we had a brief rally just prior to the break, that probably tilts the odds in favor of continuation after the break rather than a rally to test the underside of the trend line. But that remains to be seen.
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